Amazon Projects Prime Day Sales May Lift Q3 Revenue


Amazon.com 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.

Revenue in the current quarter will be $31 billion to $33.5 billion, the company said Thursday in a statement. Analysts estimated $31.6 billion, according to data compiled by Bloomberg. Sales gained 31% to $30.4 billion in the second quarter compared with analysts’ projections of $29.6 billion. Amazon Web Services revenue increased 58% to $2.89 billion from a year earlier. Shares gained as much as 4.7% in extended trading after the earnings were released. Earlier, the stock rose 2.2% to close at $752.61 in New York.

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.

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