Amazon reports a net profit of $62.65 billion in the second quarter

Amazon announced on Thursday a net profit of $62.65 billion for the second quarter.
The Seattle-based company reported a net profit of $5.75 per share. Earnings, adjusted to exclude one-off items, stood at $1.88 per share.

The results exceeded Wall Street’s expectations. The average estimate from 13 analysts surveyed by Zacks Investment Research had forecast earnings of $1.83 per share. The online retail giant reported revenue of $200.61 billion for the period, which also exceeded market forecasts. Twelve analysts surveyed by Zacks had forecast revenue of $197.11 billion.

For the current quarter, which ends in September, Amazon is forecasting revenue of between 197 and 202 billion dollars.

Amazon’s shares have risen by just over 2 per cent since the start of the year, whilst the S&P 500 index has risen by almost 9 per cent. In the final minutes of trading on Thursday, the share price reached $236.13, marking a rise of around 3% over the past 12 months.