http://www.reuters.com/article/2015/...0PX2HX20150723
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Amazon.com Inc swung to an unexpected quarterly profit on higher sales in North America, its popular Prime subscription service and growing demand for its Web services, sending the online retailer’s shares up more than 17 percent.
Amazon also forecast third-quarter revenue above estimates.
Sales in North America, the company’s biggest market, rose 25.5 percent to $13.8 billion in the second quarter from a year earlier, helped by strong demand for electronics and general merchandise.
Cloud-computing revenue soared 81.5 percent to $1.82 billion, accounting for nearly 8 percent of the quarter’s revenue, Amazon said on Thursday.
“Growth has been fueled in large part by Prime growth and also (item) selection growth so it’s been a huge driver both in North America and international segments,” Amazon Chief Financial Officer Brian Olsavsky said on a conference call with reporters.
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"It looks like they beat across every major revenue line," said Colin Sebastian, analyst with Robert W. Baird & Co. "That, along with the surprise profit beat, is icing on the cake, so to speak."
The company forecast net sales would grow 13 percent to 24 percent, to a range of $23.3 billion to $25.5 billion, in the third quarter. This is well above analysts' consensus estimate of $23.89 billion according to Thomson Reuters I/B/E/S.
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Somebody is going to be taken to the woodshed for not spending enough.
