Amazon’s Q2 Results Disappoint with a 77 Percent Drop in Net Income
Last Thursday Amazon (NASDAQ: AMZN) announced its quarterly financials for the second quarter ending June 30, 2017, and it wasn’t pretty. While much of the news was positive, including a 25 percent increase in sales to $38.0 billion, the company’s net income decreased dramatically, coming in at $197 million, 77 percent less than net income of $857 million for Q2 2016. According to The Motley Fool, Wall Street analysts had expected sales of $37.2 billion and $1.41 earnings per share. Amazon hit the sales target, but missed the earnings per share target by $1.01 per share, causing a $25.96 per share drop in Amazon stock.
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