Amazon Earnings Just Proved It's the Most Prolific FANG Stock
Amazon crushed Wall Street profit forecasts for the second quarter on Thursday. Here's what investors need to know.
Amazon (AMZN) - Get Amazon.com, Inc. Report just reminded everyone what a real FANG stock is all about.
The e-commerce retailer and cloud services provider smashed Wall Street profit forecasts for the second quarter, posting $5.02 a share vs. estimates for $2.49 a share.
Amazon hit all the key notes for the bulls who have sent shares up 50% year to date.
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Amazon Earnings Checklist: Positive
- Earnings crushed estimates, which looks especially positive following Facebook's (FB) - Get Meta Platforms Inc. Class A Report mixed second quarter.
- Third quarter operating profits seen in a range of $1.4 billion to $2.4 billion vs. estimates for $1.28 billion. Again, guidance looks great alongside slowing growth for FANG stock Facebook.
- Amazon's sales growth accelerated in North America, International and Amazon Web Services.
- Operating profit margins surged to 5.6% from 2.8% a year ago.
Amazon is a holding in Jim Cramer's Action Alerts PLUS member club.
Read TheStreet's Amazon earnings day blog here.
