(CercleFinance.com) – Amazon.com published Thursday evening results well above expectations for the second quarter and unveiled better than expected prospects, announcements which propelled its title up almost 10% on Friday at the opening of Wall Street.
The American e-commerce giant reported yesterday a turnover of 134.4 billion dollars, up 11% year on year, while analysts on average expected sales of 131.6 billion.
Business growth was driven by online distribution in North America, but especially by the key ‘cloud computing’ division, AWS, whose sales jumped 22% in the quarter.
The Seattle group posted an operating profit of 7.7 billion dollars, against 3.3 billion a year earlier, while analysts expected 4.7 billion dollars.
For the third quarter, Amazon says it expects sales of between 138 and 143 billion dollars for an operating profit of 5.5 to 8.5 billion, targets again above market expectations.
Importantly, the strategic branch AWS should see its sequential growth reaccelerate in the quarter, according to analysts, as customers turn away from their cost reductions to focus on value-creating projects.
In a reaction note, the UBS teams say they see in this second quarter ‘an inflection point, both in terms of margins margin in the distribution activities and in the AWS file’, which leads them to now make the title their ‘favorite idea’ on the Internet.
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