Amazon jumps after second-quarter revenue tops estimates

Andy Jassy, chief executive officer of Amazon.Com Inc., during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021.

The company reported better-than- expected second-quarter revenue and gave an optimistic outlook.

• EPS: Loss of 20 cents
• Revenue: $121.23 billion vs. $119.09 billion expected, according to Refinitiv

Key Amazon segments did well during the quarter.

• Amazon Web Services: $19.7 billion vs. $19.56 billion expected, according to StreetAccount
• Advertising: $8.76 billion vs. $8.65 billion expected, according to StreetAccount

Tech peers have reported disappointing results, but revenue growth of 7% in the second quarter was better than expected.

Amazon said it expects to make between $125 billion and $130 billion in the third quarter. Sales were expected to be $126.4 billion.

In the second quarter of this year, Amazon recorded a $3.9 billion loss on its investment in Rivian.