Amazon came out swinging in the second quarter and reported upbeat guidance.
The online giant posted a blowout quarter amid strong e-commerce and cloud sales, and earnings that blew past Street expectations. It reported net income of $6.7 billion, or $0.65 a share, for the quarter ended June 30, compared to a loss of $2 billion, or $0.20 a share, in the year-ago period. Analysts had expected earnings of $0.35 a share.
In another positive sign, the company’s closely-watched operating income increased to $7.7 billion from $3.3 billion in the year-ago quarter.Chain Store Age