E-commerce giant Amazon.com Inc (NASDAQ:AMZN) reported second-quarter financial results after the market close Thursday.
Here are the key highlights.
What Happened: Amazon reported second-quarter net sales of $148 billion, up 10% year-over-year. The net sales missed a Street consensus estimate of $148.56 billion, according to data from Benzinga Pro.
Net sales were broken down as the following for the second quarter:
North America: $90 billion, +9% year-over-year
International: $31.7 billion, +7%
AWS: $26.3 billion, +19%
The company reported second-quarter earnings per share of $1.26, which beat a Street consensus estimate of $1.03.
"We're continuing to make progress on a number of dimensions, but perhaps none more so than the continued reacceleration in AWS growth," Amazon CEO Andy Jassy said.
"As companies continue to modernize their infrastructure and move to the cloud, while also leveraging new Generative AI opportunities, AWS continues to be customers' top choice."
The company's entertainment segment and Amazon Prime Video were part of many of the quarterly highlights including the release of "Fallout"; earning 62 Primetime Emmy Award nominations; and recently securing the rights to NBA games for 11 seasons.
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What's Next: Amazon is guiding for third-quarter net sales to be in range of $154 billion to $158.5 billion, up 8% to 11% year-over-year. Analysts are guiding for net sales of $158.24 billion, according to Benzinga Pro.
The company sees third-quarter operating income coming in a range of $11.5 billion to $15 billion.
AMZN Price Action: Amazon shares are down 3% to $177.85 in after-hours trading Thursday versus a 52-week trading range of $118.35 to $201.20.
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Photo courtesy of Amazon.