Amazon sales beat Wall Street's bets as tariff uncertainty intensifies
Published in Business News
Trade fights and recession fears loomed over Amazon and its retail business, but consumers are showing resiliency as the company’s recent revenue growth was stronger than last year’s.
Amazon reported it brought in $167.7 billion in revenue with $18.2 billion in profit during its second quarter, which ran from April through the end of June. The figures thoroughly beat estimates from analysts on Wall Street, who expected $162 billion in revenue.
But Wall Street is fickle. Amazon’s forecast for the third quarter, which ends Sept. 30, provided an operating income range with a floor below what analysts were expecting. The company’s share price slid in after-hours trading.
Amazon provided light guidance during its previous earnings report in May as well. With shifting tariff policies affecting many of its third-party sellers, CEO Andy Jassy mentioned the uncertainty in May and the company added tariff and trade policies to the lists of risks in its financial guidance.
“It’s hard to tell what’s going to happen with tariffs right now,” Jassy said in May. “It’s hard to tell where they’re going to settle and when they’re going to settle.”
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