Amazon reports better-than-expected revenue and profits for 2Q, sending its stocks higher

NEW YORK (AP) — Amazon on Thursday posted better-than-expected revenue and profits for the second quarter, sending its stock higher in after-hours trading.  

The e-commerce giant earned $6.7 billion, or 65 cents per share, for the three-month period ended June 30, much higher the $3.64 billion industry analysts surveyed by FactSet had anticipated.  

Amazon had reported a loss during the same period last year, driven by a big loss on its investment in electric vehicle start-up Rivian Automotive. Its profits for the second quarter include a pre-tax valuation gain of $0.2 billion in its Rivian investment.  

The company said overall revenue was $134.4 billion, up 11% from the same period last year and beating analyst expectations of 8.5% growth.