Amazon Slides: Q2 Revenue Up 29% To $12.83B, But Net Income Plunges 96% To $7M, Shares Follow

Amazon announced its second quarter results today, coming in slightly below estimates with operating cash flow slightly ahead at $3.22 billion year-over-year, compared to $3.21 billion in the year prior. Meanwhile, free cash flow decreased 40 percent to $1.10 billion year-over-year, compared to $1.83 billion the year prior. The eCommerce giant's revenue, on the other hand, trended up significantly, increasing 29 percent to $12.83 billion in Q2 -- compared with $9.91 billion in the second quarter. A definite bright spot for Amazon. The company was quick to follow by saying that, other than the $272 million it attributes to the "unfavorable exchange rate" through the quarter, net sales "would have grown 32 percent" compared with Q2 2011, the company said.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/PlP4pERea2Q/

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