E-commerce giant Amazon Inc. saw its second quarter sales rise to $113.1 billion, lower than the estimated $115.4 billion.
The sales were still 27% higher than the $88.9 billion reported in the second quarter of 2020.
Net income climbed to $7.8 billion or $15.12 per diluted share, more than the estimated $12.28 EPS and up from $5.2 billion or $10.30 EPS in the second quarter of 2020.
Online store sales, which have been growing by double digits, eased to a 16% year-over-year gain.
Sales from Amazon’s cloud unit grew 37% year over year to $14.8 billion.
Amazon now expects sales of $106 billion to $112 billion in the current quarter and an operating income of between $2 billion to $6 billion.
The e-commerce giant’s missed sales and downgraded expectations showing continued economic stabilization as online shopping, which boomed during the pandemic, wanes.
AMZN: NASDAQ is down -6.28%.
