Friday, May 25, 2018
One of America's Great Newspapers ~ Toledo, Ohio

Business says second-quarter earnings fall 58 percent

SEATTLE Inc. said today that second-quarter earnings plunged nearly 58 percent, missing Wall Street expectations, as the company focused on investing in a shipping deal and new technologies.

For the three months ended June 30, the Seattle-based Internet retailer reported earnings of $22 million, or 5 cents per share, compared with earnings of $52 million, or 12 cents per share, in the same period a year earlier.

Sales for the quarter were $2.14 billion, a 22 percent increase over sales of $1.75 billion in the year-earlier period. The company said sales would have grown 23 percent if not for the negative impact of foreign exchange rates.

Analysts polled by Thomson Financial were expecting second-quarter earnings of 7 cents per share on revenue of $2.1 billion.

In a statement, Chief Executive Jeff Bezos said the company was focused on investing in Amazon Prime, which for $79 per year gives people unlimited two-day free shipping, and new technology initiatives. shares fell 72 cents or 2.1 percent to close at $33.59 in regular trading on the Nasdaq Stock Market. Results were released after the markets closed. In after-hours trading, shares were down an additional $3.37.

In the past 52 weeks, shares have traded between $31.52 and $50.

Read more in later editions of The Blade and

Points of Interest
Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2018 Toledo Blade

To Top

Fetching stories…