Amazon took Wall Street by surprise yesterday when it posted its Q2 earnings report.
The company’s performance was driven by operating cash flow that increased 42% and reached $51.2 billion, compared to the $36 billion posted a year ago. Its net sales added 40% from last year's 63.4 billion. At the same time, the quarter profit came in at $5.2 billion, or $10.30 per share.
According to finance.yahoo.com, the revenue exceeded analysts’ expectation of $81.24 billion coming in at $88.9 billion. The EPS figures came in at $10.30, leaving far behind the $1.51 expected.
Amazon’s amazing results positively impacted the net worth of Jeff Bezos, the company’s CEO, by nearly $10 billion. The riches man on the planet now has a net worth of $189.5 billion.
Upon release, the company provided Q3 guidance: the net sales are expected to reach a high of $93 billion while operating income is expected to drop with a range of $2 billion - $5 billion.
According to analysts, the stock is said to outperform in the next 12 months.
In after-hours trading, the Amazon stock price gained more than 6%. In Q2, the stock went up more than 24%, and the company's market cap was pushed over $1.5 trillion. Since January, it added more than 63%.
See how companies performed in the second quarter on CAPEX.com!
Sources: marketwatch.com, finance.yahoo.com