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.
Source: Chain Store Age
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 