NEW YORK (TheStreet) –– Amazon.com
(AMZN - Get Report) shares plunged 5.7% to $338.10 in after-hours trading on Thursday following quarterly results that were in line with revenue estimates but missed earnings per share.
Amazon reported second-quarter revenues of $19.34 billion, right in line with analyst expectations according to Thomson Reuters and a 23% increase year-over-year. However, Amazon lost 27 cents per share, much worse than consensus, which modeled a loss of 15 cents per share. Net sales increased 23% year-over-year. In the first quarter, the Seattle-based online retailer earned 23 cents a share on $19.74 billion in revenue and net sales increased 23% year-over-year. The operating loss was $15 million this quarter, compared with $146 million in the first quarter and an operating income of $79 million a year ago. Net loss was $126 million, or 27 cents per share, compared with $7 million, or 2 cents per share, in the second quarter 2013.
According to Schaeffer's Investment Research, the options market priced in a roughly 6% move for the stock.
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