Amazon Shares Jump 15% After Company Beats Estimates

Amazon Inc. shares jumped 15% after-hours Thursday after the company beat second-quarter earnings expectations. The e-commerce company reported net income of $92 million, or 19 cents a share, after losing $126 million, or 27 cents a share, in the year-earlier period. The FactSet consensus was a loss per share of 15 cents. Amazon reported sales of $23.1 billion, above the FactSet consensus of $22.4 billion. Amazon said it expects third-quarter sales between $23.3 billion and $25.5 billion. "The teams at Amazon have been working hard for customers," said CEO Jeff Bezos, citing the company's launch of Amazon Business and Prime same-day delivery, among other factors. Amazon shares have gained 23% in the past three months, compared to the S&P 500's loss of 1%.