Amazon.com Reports Earnings Surprise
After the market close, Amazon.com (AMZN ) posted narrower loss of $43 million, or 11 cents per share, in the second quarter, vs. a loss of $94 million, or 25 cents per share, a year ago. Pro forma net income in the second quarter, which includes interest expense, grew over $46 million to $42 million, or 10 cents per share, compared with a pro forma net loss of $4 million, or 1 cent per share, a year ago. The results beat Wall Street expectations of operating EPS of 6 cents. Sales rose 37% to $1.1 billion thanks to its free-shipping offer. The online book seller raised its outlook, and now sees third-quarter sales of $1.08 billion to $1.15 billion and operating income between $40 million and $55 million.
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