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7/30, 10:10 PM (Source: TeleTrader)
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Amazon's Q2 EPS surges 97.3% to $10.30, tops estimates

Amazon.com announced on Thursday that its diluted earnings per share were at $10.3 in the second fiscal quarter, surging 97.3% on an annual basis to beat market expectations. Net income stood at $5.2 billion in the same period, jumping 100% compared to the second trimester in 2019, while the e-commerce giant's net sales landed at $88.9 billion in three months ending June, growing 40% annually.

Operating cash flow rose 42% year-over-year to $51.2 billion, while free cash flow gained 27.6% compared to the second quarter last year to amount to $31.9 billion.

"This was another highly unusual quarter, and I couldn’t be more proud of and grateful to our employees around the globe. We’ve created over 175,000 new jobs since March and are in the process of bringing 125,000 of these employees into regular, full-time positions. And third-party sales again grew faster this quarter than Amazon’s first-party sales," the company's CEO Jeff Bezos said in a statement.

Amazon's shares soared nearly 6% in after-hours trading after the Oregon-based firm unveiled its quarterly results.

Breaking the News / GA