Amazon shoppers have been fighting their recession fears and chasing deals on the e-commerce giant’s marketplace. Wall Street, though, is nervous about the rest of the year.
Sales figures released Thursday by the company show its customers kept spending between April and June, driving up both revenue and profit for the Seattle-headquartered company. But analysts and investors latched onto a gloomy profit forecast in the coming quarter.
Amazon reported it brought in $167.7 billion in revenue with $18.2 billion in profit during its second quarter, which ran from April through the end of June.
The figures thoroughly beat estimates from analysts on Wall Street, who expected $162 billion in revenue. The results also showed stronger revenue growth compared to the same quarter last year, as sa