Amazon’s quarterly profit tops $2 billion for first time

Amazon’s quarterly profit tops $2 billion for first time
Amazon.com's logo is seen at Amazon Japan's office building in Tokyo, Japan, August 8, 2016. (REUTERS/Kim Kyung-Hoon/File Photo)
Updated 27 July 2018

Amazon’s quarterly profit tops $2 billion for first time

Amazon’s quarterly profit tops $2 billion for first time
  • Revenue soared 39 percent to $52.89 billion in the second quarter
  • Shares of Amazon.comrose more than 2 percent to $1,851.50

NEW YORK: Amazon’s quarterly profit soared past $2 billion for the first time, as revenue from online shopping and its cloud computing business grew.
The Seattle-based company reported net income of $2.53 billion, or $5.07 per share, for the three months ending June 30. That blew past the $2.48 per share Wall Street analysts expected, according to FactSet.
Revenue soared 39 percent to $52.89 billion in the second quarter, but was below the $53.37 billion analysts expected.
Shares of Amazon.comrose more than 2 percent to $1,851.50 in after-hours trading Thursday.