The Seattle Times
Amazon.com Inc. projected operating income that fell short of analysts’ estimates, worrying investors that it’s returning to a big spending cycle to fuel faster deliveries in the face of greater competition.
The company reported second-quarter revenue increased 20% to $63.4 billion, Amazon said Thursday in a statement. Analysts, on average, estimated $62.5 billion, according to data compiled by Bloomberg.
The Seattle-based e-commerce company also said operating income in the current quarter will be $2.1 billion to $3.1 billion, well shy of analyst estimates of $4.34 billion. . . . more