Amazon stock jumps 10% as Q2 revenues beat street view

Published by

Shares of US retail giant Amazon jumped over 10% in extended trading session on Thursday after the online retail giant’s second-quarter revenues trumped Street estimates. The company posted a loss for the quarter hurt by a loss recorded on Rivian investment. Seattle-based Amazon reported second-quarter net loss of $2 billion or $0.2 per share, compared with net income of $7.8 billion or $0.76 per share last year. This year’s loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expense from investment in Rivian Automotive. On average, 37 analysts polled by Thomson Re…

Read More

Leave a Reply