Amazon.com Records Lackluster Quarter
Amazon.com missed expectations when it reported second-quarter results on Thursday, but investors didn't seem to mind, as the stock climbed 1 percent during the normal session to $220.01 and another 1 percent after the closing bell.
Amazon said net income slipped to $7 million from $191 million in the same quarter a year ago, and revenue grew 30 percent to $12.8 billion, which was about $100 million shy of expectations.
On a per-share basis, Amazon notched a penny while analysts expected 3 cents.
In the "media" category, Amazon's sales grew 13 percent to $4.1 billion.
Amazon CEO Jeff Bezos on Thursday called Amazon Pirme, the discount-shipping service that also includes streaming movies and TV shows for $79 a year, "the best bargain in the history of shopping."
The service includes 18,000 movies and TV episodes and titles added during the quarter include Braveheart, Forrest Gump, Nacho LIbre, Rain Man, Silence of the Lambs, Species, Stargate, Mean Girls and Moonstruck.