Amazon Posts Surprise Q2 Profit

(RTTNews) - Amazon.com, Inc. (AMZN) reported net income for the second quarter of $92 million or $0.19 per share, compared to a net loss of $126 million or $0.27 per share for the year-ago quarter.

Net sales for the second quarter rose 20% to $23.18 billion from $19.34 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share on revenue of $22.39 billion for the second quarter.

Looking forward, the company forecasts third quarter net sales of $23.3 billion to $25.5 billion. Analysts currently expect the company to post revenue of $23.89 billion for the third quarter.

Third quarter operating results are expected to be between a loss of $480 million and profit of $70 million.