Skip to content
Subscriber Only
Technology
Pursuits

Amazon Forecasts Sales That May Beat Estimates on Prime Day

  • Cloud-computing unit revenue gains 58 percent in quarter
  • Packing, shipping costs rise 35 percent on faster delivery
Video player cover image

Amazon Sees a Profit for Fifth Straight Quarter

Updated on

Amazon.com Inc. projected revenue for the third quarter that may beat analysts’ estimates, boosted by record sales of Fire TV sticks and Echo devices on Prime Day and a strong start to its expansion in India.

Amazon dominates e-commerce in the U.S. with its $99 Amazon Prime annual subscription, which includes delivery discounts, music and video streaming and photo storage that keep shoppers engaged with the company. It continues to invest in logistics to set the pace on fast delivery, offering to get tens of thousands of items to customers in as little as an hour in many cities. The fast-growing and profitable cloud computing division Amazon Web Services has reinvigorated investors, allaying concerns about razor-thin margins from e-commerce sales and helping make Chief Executive Officer Jeff Bezos the fourth-richest man in the world.