CNBC: Amazon posts third $100bn quarter in a row, but still misses expectations

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CNBC reports:

Key points

– Amazon fell short of analysts’ estimates for revenue in its second-quarter results.

– It also gave weaker-than-expected outlook for third quarter revenue, which Amazon CFO Brian Olsavsky blamed on tough year-over-year comparisons to its business during Covid-19 lockdowns.

Amazon shares fell more than 6% in extended trading on Thursday after the company reported its first revenue miss in three years and gave weak third-quarter guidance.

Here’s how the company did:

– Earnings: $15.12 vs $12.30 per share, according to analysts surveyed by Refinitiv

– Revenue: $113.08 billion vs $115.2 billion, according to analysts surveyed by Refinitiv

Amazon’s revenue grew by 27% year over year to $113.08 billion. That’s a significant slowdown from the second quarter of 2020, when sales skyrocketed 41% year over year…

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The Q2 21 release is here.

In after-hours rade, stock down to $3,338.00, −$261.92 (-7.28%).