Andy Jassy, CEO Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, October 25, 2016.
Mike Blake | Reuters
- Earnings: $15.12 vs $12.30 per share, according to analysts surveyed by Refinitiv
- Revenue: $113.08 billion vs $115.2 billion, according to analysts surveyed by Refinitiv
Amazon announced the second-largest acquisition in its history during the second quarter. In May, Amazon said it would acquire MGM Studios for $8.45 billion, giving it access to the Hollywood studio’s deep bench of films and TV shows, including the James Bond catalog. The proposed deal is under review by the Federal Trade Commission, the Wall Street Journal reported.
The other pillar of Amazon’s business, Amazon Web Services, is expected to have another solid quarter. AWS is projected to post $14.2 billion in revenue for the period, according to StreetAccount.
The quarter also reflects the last full quarter of Jeff Bezos’ tenure as CEO. On July 5, Bezos handed the role of CEO over to Andy Jassy, who previously led AWS. Bezos is now executive chairman. It’s unclear if Jassy will take part in Amazon’s post-earnings conference call Thursday evening. Bezos hasn’t participated in an earnings call since 2009.
Amazon shares are up about 11.5% since the start of the year. The S&P 500 index has increased roughly 18% during the same period.
This story is developing. Check back for updates.