 "Amazon.com meets tiny 2Q profit expectations")
Online retailer Amazon.com is reporting second-quarter earnings that match Wall Street’s small expectations, but its revenue gains have fallen short of forecasts.
Net income in the three months to June 30 came to just $7 million, or a penny per share, a drop of 96 percent from $191 million, or 41 cents, a year ago.
Meets tiny 2Q profit expectations
That matched expectations of analysts polled by FactSet, although Amazon.com Inc. says its profit was hurt by a $65 million loss related to its acquisition of Kiva Systems Inc.
Revenue grew 29 percent to $12.83 billion, short of the $12.90 billion expected by analysts.
However, Amazon.com said Thursday that revenue was negatively impacted by currency movements to the tune of $272 million.
Shares fell 1.7 percent to $216.38 in after-hours trading.
Associated Press