1 Big Takeaway from Amazon's Earnings Call
Amazon.com's (NASDAQ: AMZN) recent second-quarter report was one for the record books. The e-commerce and cloud computing leader's results crushed the market's expectations and illustrated just how well-positioned the company was to thrive amid the conditions created by the coronavirus pandemic.
Amazon posted earnings per share of $10.30 on revenue of $88.9 billion, trouncing the average analyst estimate's target for per-share earnings of $1.46 on revenue of $81.56 billion. Sales were up 40% year over year in the quarter, driven by strong performance for online retail and cloud services.
Within the e-commerce category, momentum for Amazon's grocery delivery services was particularly noteworthy. Management outlined progress for the business during its second-quarter call, and momentum on the grocery front was astounding.
Source Fool.com
