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Amazon Misses on Q2 Revenue, Profit Jumps 50% to Beat Earnings Estimates

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variety.com
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Todd Spangler NY Digital EditorAmazon grew total sales in the second quarter of 2021 by 27% to $113.1 billion — a record for Q2 — but that was lighter than investors had expected, given in part that Prime Day shopping promo occurred in the period.The gigantic internet company turned in another strong performance on the bottom line, through: Amazon reported net income of $7.8 billion in Q2, or $15.12 per diluted share.

That’s up about 50% from $5.2 billion in the year-earlier period.Click here to sign up for Variety’s free Media Earnings newsletter.Wall Street analysts were expecting revenue of $115.07 billion and EPS of $12.22.Amazon in May announced a $8.45 billion bid for MGM, driven the ecommerce giant’s a desire to obtain the studio’s.

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