Amazon misses Wall Street expectations by a mile
- EPS (GAAP) of 40 cents a share. Wall Street was expecting $1.42 a share, according to Bloomberg. In the year-ago period, Amazon earned $1.78 a share.
- Revenues of $38 billion. Analysts were expecting $37.2 billion. Amazon posted sales of $30.4 billion in the second quarter last year.
- Guidance: For the third quarter, Amazon expects to post revenue of between $39.25 billion and $41.75 billion. It expects its operating results to range from an operating loss of $400 million to an operating profit of $300 million. Assuming the company's nonoperating income and expenses stay about the same — and depending on its allocation for taxes — that guidance implies that Amazon expects its bottom line for the period to come in at between a nearly $1-per-share loss to a profit that's well shy of a $1 a share. Before Amazon's report, Wall Street was forecasting that Amazon would earn $1.13 a share on $39.97 billion in sales in the period.