Amazon's quarterly profits has surged, but the company's revenue fell short of analysts' expectations. For the April-June period, Amazon reported earnings of $13.5 billion, exceeding the $10.99 billion anticipated by industry analysts surveyed by FactSet. This marks an increase from the $6.7 billion earned during the same period last year. Earnings per share for the second quarter were $1.26, surpassing analysts' expectations of $1.03.
Despite the positive earnings, investors reacted negatively to other results, leading to a more than 6% drop in Amazon shares after the closing bell. The company's revenue of $148 billion, a 10% increase, slightly missed analyst expectations of $148.67 billion. Amazon also provided a lower-than-expected revenue forecast for the current quarter, ending Sept. 30, ranging from $154 billion to $158.5 billion, compared to the $158.22 billion predicted by analysts.
