Amazon has just reported its earnings for the second quarter of the year – the three months ending June 30. And it was another strong quarter for the retail giant. It beat analyst expectations on EPS, coming in at $5.07 EPS versus the expected $2.49 EPS. But it did miss, narrowly, on revenue. Bringing in $52.9 billion for the quarter, while analysts were expecting $53.35 billion. With the huge EPS beat, Amazon’s stock is currently up 3-percent in after hours trading. At market close, the market cap was $860 for Amazon, so it needs roughly a 16-percent jump to make the $1 trillion threshold.
In the quarter, net sales increased 39-percent quarter-over-quarter, and 37-percent year-over-year. Internationally, Amazon brought in $14.6 billion in revenue, which is up from the $11.5 billion in the same period last year. Amazon Web Services was also a big hit for the company, again this quarter. It brought in $6.1 billion in revenue. Which is a huge increase from the $4.1 billion from the same period a year earlier. This means that AWS is still the biggest growth area for Amazon, year-over-year. With 49-percent growth year-over-year, while it is also still growing its North America business.
Amazon did also have a number of highlights in the quarter, including getting its next-generation Fire TV Edition Smart TVs into stores, with its Best Buy partnership. Before this partnership, it was only available from Amazon’s website. The Toshiba 4K Smart TV Fire TV Edition also launched in the quarter – and was made available in the US and Canada. Amazon says that there are more models coming later this year. Amazon also launched the Fire TV Cube and the Fire HD 10 Kids Edition tablet. All of these have been big sellers for Amazon, as has been the case for the majority of its own hardware in recent years. Amazon hasn’t mentioned Prime Day in the press release here, and that’s because Prime Day actually happened in the third quarter, so those numbers won’t come out until the next earnings call which should be around October.