Amazon Cruises Past Wall Street Q2 Estimates, With Advertising Surging 22% Over Year-Ago Levels
deadline.comAmazon cruised past Wall Street estimates in the second quarter, swinging from a loss in the year-ago period to better-than-expected profits.
The financials for the period ending June 30 beat analysts’ forecasts in pretty much every category. Total revenue rose 11% to $134.4 billion, earnings came in at 65 cents a share on a diluted basis, compared with a loss of 20 cents.
Revenue in the web services division also exceeded estimates, totaling $22.1 billion. In its earnings release, Amazon included Prime Video in its list of bullet-point highlights, noting the release of Air in theaters and then on the company’s streaming platform.
The tech giant also touted its 68 Primetime Emmy nominations. “It was another strong quarter of progress for Amazon,” CEO Andy Jassy said.
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