July 30, 2021
Amazon did not exceed the analyst’s estimated earnings after it reported an estimated profit increase of $113.1 billion for the second quarter.
Analysts had expected a profit of $12.2 on revenue of $115.07 billion.
While Amazon missed analysts’ financial expectations, it posted growth thanks to its cloud business AWS, which accounted for most of the company’s operating profit.
Breaking it down, AWS generated net sales of $14.81 billion and an operating income of $4.19 billion in the second quarter. Amazon’s North America segment generated $67.55 billion in net sales with $3.15 billion recorded as operating income.
Amazon’s “other” category recorded $7.91 billion, attributable to ad services, which the company said grew 87% in the second quarter.
For more information, read the original story in ZDNet.
