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Amazon earnings plunge from year earlier

Kind of like receiving an empty package.

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July 27, 2012 • Reprints

Amazon released earnings after the close on Thursday. For the second-quarter, the world’s largest online retailer posted a profit of $7 million, or $0.01 a share, sharply down from $191 million, or $0.41 a share, a year earlier. That also missed the $0.02 average analyst estimate. Sales rose 29% to $12.8 billion, compared with the average estimate of $12.9 billion.

The company previously had a strong Q1, showing a 34% increase in revenue to $13.18 billion following the holiday season. For Q2, the company stated that its top 10 selling products were all digital-related, including Kindle, Kindle books and accessories. North American sales were up 36% quarter over quarter to $7.33 billion, while international sales jumped 22%.

Looking ahead to the third quarter, the company sees revenue ranging $12.9-14.3 billion, which is below the $14.1-billion consensus estimate.

Amazon.com (AMZN : NASDAQ : US$220.01), Net Change: 2.96, % Change: 1.36%, Volume: 5,870,890

About the Author

Canaccord Genuity Morning Coffee

Canaccord Genuity Inc. is a global investment banking and institutional brokerage firm. Their website is www.canaccordgenuity.com.

For disclosures of any equities mentioned here please see: http://www.canaccordgenuity.com/en/ODD/pages/disclosures.aspx.

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