Amazon continues to dominate
Amazon exceeded investors’ expectations in the second quarter, causing their stock to jump almost four percent on Thursday.
In fact, Amazon more than doubled analysts’ forecasts last quarter. They posted a $2.5 billion profit, $52.9 billion in revenue, and $5.07 per share. In fact, there’s a chance that Amazon might double expectations in Q3 as well.
The e-commerce giant has shown that it continues to expand and thrive in those developing areas. For example, it has invested in prescription drugs and groceries through its acquisitions of PillPack and Whole Foods, respectively. They have proven these investments to be worthwhile, as they have boosted revenue while keeping costs down.
Amazon is the second most valuable brand in the world, behind Apple, and its success has made CEO Jeff Bezos the richest man in the world – in fact, he has admitted that he doesn’t know what to do with the sheer amount of money he has. Plus, Amazon’s cloud computing arm continues to thrive. Amazon Web Services jumped 49 percent last quarter, which brought in $6.1 billion in revenue.
Over the past twelve months, Amazon’s stock has risen over 73 percent. The company continues to expand every day and seems unstoppable. In a time where Facebook and other tech companies are sliding, Amazon is giving hope to the stock market and its investors.
It seems like investors will be able to count on Amazon for quite some time.