This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Bumper EPS Beat
Shares in US tech giant Amazon are trading 0.60% higher pre-market on Friday following a bumper Q2 earnings report yesterday.
Amazon reported earnings per share of $10.30. This was a huge upside surprise to the $1.48 EPS expected. Revenues were reported at $88.9 billion, marking a 40% jump on the same quarter last year, with a net income of $5.2 billion.
Regionally, Amazon reported a 43% jump in North American sales which rose to $55.4 billion. International sales were higher by 38%, rising to $22.7 billion. Q2 revenues at this level were well above the $81.56 figure the market was looking for.
Highly Unusual Quarter
Commenting on the results, Amazon CEO Jeff Bezos said:
“This was another highly unusual quarter, and I couldn’t be more proud of and grateful to our employees around the globe. As expected, we spent over $4 billion on incremental COVID-19-related costs in the quarter to help keep employees safe and deliver products to customers in this time of high demand —...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.