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Amazon (AMZN) Q2 2024 earnings results beat EPS expectations, miss revenue estimates

Amazon stock saw a sharp decline after the company reported a revenue miss in its quarterly earnings.

August 1, 2024 1:33 PM

Markets have closed for the day, and Amazon (AMZN) was among the companies that reported its earnings for the latest financial quarters. It was a beat on EPS, but a miss on revenue expectations did some damage to the stock in after-hours trading.

Amazon’s Q2 2024 earnings report shows that the retail giant made $148 billion in revenue, which missed the expectation of $149 billion. As for EPS, Amazon made $1.26 against a $1.03 expectation.

Shares of Amazon saw an initial dive in after-hours trading following the report's release. The stock was valued as low as $173.85 after ending the day at $183.90. “We’re continuing to make progress on a number of dimensions, but perhaps none more so than the continued reacceleration in AWS growth,” said Andy Jassy, Amazon President & CEO.

Amazon isn’t the only company reporting financial earnings today, and Corsair and Intel have also shared their newest reports. For more news at the intersection of finance and technology, stick with Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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