Tuesday, July 26, 2011

Amazon.com Inc. (NASDAQ: AMZN): Q2 2011 Earnings Roundup

Amazon.com Inc. (NASDAQ: AMZN) reported late Tuesday that its second-quarter profit dropped to $191 million, or 41 cents a share, from $207 million, or 45 cents a share, in the year-ago quarter. Revenue surged 51% to $9.91 billion from $6.57 billion. Analysts, on average, expected the company to report earnings of 35 cents per share on revenue of $9.37 billion.

"Low prices, expanding selection, fast delivery and innovation are driving the fastest growth we've seen in over a decade," said Jeff Bezos, founder and CEO of Amazon.com. "Kindle 3G with Special Offers has quickly become our bestselling Kindle at only $139. Customers love the convenience of a 3G reader -- no hunting for or paying for Wi-Fi hotspots. Amazon picks up the tab for the 3G wireless, so you have no monthly payments or annual contracts."

Looking ahead to the third quarter, Amazon said that it expects revenue to come in the range of $10.3 billion to $11.1 billion.

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