Amazon’s Q2 Profits Up, But Stock Takes a Hit

Amazon has long been considered a leading indicator of how well online sales are doing. According to Amazon CEO Jeff Bezos, the big trend is mobile. Bezos said in the past year his company has received over $1 billion in product orders online from customers using a mobile device.

Ecommerce Guide details Amazon’s latest earnings report, which fell well short of analyst’s expectations. But CEO Bezos said there are still plenty of reasons to be optimistic about the company’s performance going forward.

Internet retailer Amazon today reported a 45 percent increase in profits for the second quarter, but fell well short of analysts’ expectations as the stock took a beating in after-hours trading.

Amazon (NASDAQ: AMZN) reported net income for the second quarter of $207 million, or $0.45 per share, up 45 percent from the year-earlier period, when it posted net income of $142 million, or $0.32 per share. But analysts polled by Thompson Reuters had been expecting earnings of $0.54 per share. Shares of Amazon were down more than 13 percent in extended trading.

Read the full story at Ecommerce Guide:

Amazon Q2 Profits Spike but Wall Street Wants More

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