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Amazon (AMZN) 2Q18 Results: Falls Short on Revenues but Beats on EPS

Executive Summary

  • Amazon reported 2Q18 EPS of $5.07, handily beating the $2.49 consensus estimate and up 1,166% year over year. Revenues were $52.9 billion, up 39.3% year over year but short of the consensus estimate of $53.45 billion.
  • The Amazon Web Services (AWS) and North America segments drove growth, up 48.9% and 43.8% year over year, respectively. International revenues grew by 27.2%. Fulfillment expenses were $7.9 billion, up 53.8% year over year and exceeding revenue growth of 39.3% over the same period.
  • Amazon guided for 3Q18 revenues of $54.0–$57.5 billion, up 23%–31%. The EPS consensus estimate for 3Q18 is $2.49.

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