Amazon Reports Strong Bottom Line Beat, Operating Income Surges YoY

Amazon.com, Inc. AMZN reported Q2 EPS of $1.78 vs $1.11 estimates. Sales came in at $30.4 billion versus estimates of $29.54 billion. Operating income rose to $1.3 billion compared with Q2 2015 operating income of $464 million.

Founder and CEO Jeff Bezos said ""It's been a busy few months for Amazon around the world, and particularly in India — where we launched a new AWS Region, introduced Prime with unlimited free shipping, and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies — including original content featuring top Indian creators and talent."

Amazon issued sales guidance for Q3 2016 of $31 billion to $33.5 billion versus estimates of $31.63 billion.

Shares of Amazon fell about 3 percent after hours, but recently traded at $747.58, down about 0.8 percent.