Amazon Projects Prime Day Sales May Lift Q3 Revenue
Posted in: UncategorizedAmazon.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.
Post a Comment