Amazon.com Inc. gave a sales outlook that topped estimates on a strong performance from its main e-commerce business. The shares rose about 6% in extended trading.
(Bloomberg) — Amazon.com Inc. gave a sales outlook that topped estimates on a strong performance from its main e-commerce business. The shares rose about 6% in extended trading.
Revenue in the current quarter will be $138 billion to $143 billion, compared with analysts’ average projection of $138.3 billion. Operating income will range from $5.5 billion to $8.5 billion. Analysts, on average, estimated $5.41 billion.
Since taking the reins two years ago, Chief Executive Officer Andy Jassy has been putting his stamp on the world’s largest e-commerce and cloud services company. Besides cutting thousands of jobs, he has axed dozens of products hatched during the go-go years of founder Jeff Bezos and initiated reviews of several other businesses.
Keen to retain a competitive edge in its core online retail business, Amazon has been investing heavily in its logistics operation and on Monday pledged to double the number of facilities capable of getting orders to customers the same day. Earlier this week, Bloomberg Businessweek reported that Amazon is rebooting its grocery operation by offering fresh food delivery to shoppers without Prime subscriptions and more tightly integrating its Fresh and Whole Foods Market chains.
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