Company News: Amazon (AMZN) quarterly results significantly beat analysts’ estimates

Market news

31 July 2020

Company News: Amazon (AMZN) quarterly results significantly beat analysts’ estimates

Amazon (AMZN) reported Q2 FY 2020 earnings of $10.30 per share (versus $5.22 per share in Q2 FY 2019), beating analysts’ consensus estimate of $1.62 per share.

The company’s quarterly revenues amounted to $88.912 bln (+40.2% y/y), beating analysts’ consensus estimate of $81.269 bln.

The company also issued upside guidance for Q3, projecting revenues of $87-93 bln versus analysts’ consensus estimate of $86.36 bln and operating income of $2.00-5.00 bln versus analysts’ consensus estimate of $2.90 bln.

AMZN rose to $3,218.01 (+5.44%) in pre-market trading.

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