Amazon Stock Is Rising Today: Here's Why

Amazon.com, Inc. AMZN shares are trading higher by 11.02% to $135.75 Friday morning after the company reported better-than-expected second-quarter EPS and sales results.

What Happened?

Amazon's second-quarter adjusted EPS of 18 cents beat the analyst consensus estimate of 13 cents. Meanwhile, sales of $121.23 billion also beat the $119.09 billion estimate.

The company reported a net loss of 20 cents per share in the second quarter. The company said the net loss includes a pre-tax valuation loss of $3.9 billion related to an investment in Rivian Automotive RIVN... Read More

What Else?

"Despite continued inflationary pressures in fuel, energy, and transportation costs, we're making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network," said Andy Jassy, Amazon CEO.

"We're also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year, exclusive access to NFL Thursday Night Football games starting September 15, and releasing the highly anticipated series The Lord of the Rings: The Rings of Power on September 2," Jassy stated.

See Also: What In The World Is Going On With Ethereum Classic?

According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.