Amazon misses 2Q profit estimates
July 25 (Reuters) - Amazon.com Inc on Thursday reported second-quarter profit below analysts' estimates, as the world's biggest online retailer spent more money on faster delivery of packages to Prime members.
Shares of the company were down nearly 2% at $1939.05 in extended trading.
Amazon's operating expenses surged about 21% in the quarter to $60.32 billion as it invested $800 million in the second quarter for its one-day delivery program.
The company forecast net sales in the range of $66 billion and $70 billion for the third quarter. Analysts were expecting revenue of $67.27 billion, according to IBES data from Refinitiv.
Net sales in North America, its biggest market, jumped 20% to $38.65 billion during the quarter. Analysts had expected revenue of $37.04 billion.
Revenue from cloud computing unit Amazon Web Services (AWS) surged 37.3% to $8.38 billion, but missed estimates of $8.47 billion, according to IBES data from Refinitiv.
Net sales rose about 20% to $63.40 billion in the second quarter, beating estimates of $62.48 billion.
Amazon's net income rose to $2.63 billion, or $5.22 per share, in the quarter ended June 30, from $2.53 billion, or $5.07 per share, a year earlier.
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Analysts were expecting a profit of $5.57 per share, according to IBES data from Refinitiv.
(Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco; Editing by Anil D'Silva)
