1 Thing the Market Got Wrong in Amazon's Earnings Report
Amazon's (NASDAQ: AMZN) latest earnings results were enough to beat analysts' expectations, but the stock fell after management issued lower-than-expected guidance for the third quarter. As of this writing, the stock is down 6.5% since the earnings report, but strong demand from new Prime customers is causing Amazon to spend aggressively to support growth. Amazon posted revenue growth of 27% year over year in the second quarter, or 24% adjusted for currency fluctuations.
