Net sales for the three months ending June was $134.38 billion, exceeding analysts’ expectations of $131.63 billion with a guidance of $127 billion to $133 billion. The Amazon Web Services cloud unit generated $22.14 billion compared to an estimate of $21.71 billion.

Amazon’s diluted earnings per share for the quarter were $0.65, far exceeding Wall Street’s forecast of $0.35 per share. The company’s operating margin was 5.7%, compared to an estimated 3.46%.

Following the company’s strong Q2 results, Amazon decided to raise its third-quarter revenue outlook to a range of $138 billion and $143 billion, beating the expected $183.3 billion.

The post Amazon Stock Jumps Amid Strong Q2 Earnings appeared first on theprimarymarket.com.

This is because some of the biggest tech companies in the world have recently reported numbers that were lower than expected, which leads people to wonder whether or not Amazon will follow suit.

Indeed, in Meta Platforms’ recently announced fiscals report, we learned that the tech giant suffered a year-over-year revenue drop—the first time ever in their company’s history. Meanwhile, both Alphabet (Google parent company) and Microsoft also reported earnings that didn’t live up to what financial analysts predicted.

So with all of these massive tech conglomerates struggling, many are wondering how Amazon will fare in this mid-year assessment.

Bloomberg initially predicted that Amazon will have a strong year-over-year surge, from $113.08 billion to $119.53 billion. However, if Amazon stays consistent with the recent sliding trend of other tech companies, this prediction will be super off-base.

Due to an impending possible recession, it may be the case that people aren’t spending as much online, which could result in a poor quarter for Amazon. In any case, analysts are awaiting the results with eager and pricked ears.

The post Amazon Ready to Report Q2 Earnings appeared first on theprimarymarket.com.

Net sales for the three months ending June was $134.38 billion, exceeding analysts’ expectations of $131.63 billion with a guidance of $127 billion to $133 billion. The Amazon Web Services cloud unit generated $22.14 billion compared to an estimate of $21.71 billion.

Amazon’s diluted earnings per share for the quarter were $0.65, far exceeding Wall Street’s forecast of $0.35 per share. The company’s operating margin was 5.7%, compared to an estimated 3.46%.

Following the company’s strong Q2 results, Amazon decided to raise its third-quarter revenue outlook to a range of $138 billion and $143 billion, beating the expected $183.3 billion.

The post Amazon Stock Jumps Amid Strong Q2 Earnings appeared first on theprimarymarket.com.

This is because some of the biggest tech companies in the world have recently reported numbers that were lower than expected, which leads people to wonder whether or not Amazon will follow suit.

Indeed, in Meta Platforms’ recently announced fiscals report, we learned that the tech giant suffered a year-over-year revenue drop—the first time ever in their company’s history. Meanwhile, both Alphabet (Google parent company) and Microsoft also reported earnings that didn’t live up to what financial analysts predicted.

So with all of these massive tech conglomerates struggling, many are wondering how Amazon will fare in this mid-year assessment.

Bloomberg initially predicted that Amazon will have a strong year-over-year surge, from $113.08 billion to $119.53 billion. However, if Amazon stays consistent with the recent sliding trend of other tech companies, this prediction will be super off-base.

Due to an impending possible recession, it may be the case that people aren’t spending as much online, which could result in a poor quarter for Amazon. In any case, analysts are awaiting the results with eager and pricked ears.

The post Amazon Ready to Report Q2 Earnings appeared first on theprimarymarket.com.