Amazon quarterly profit jumps but shares slide

San Francisco: Amazon said Thursday second-quarter profit jumped 48 per cent from a year ago to $7.8 billion, but shares in the tech and e-commerce giant fell on a disappointing revenue number.

Total revenues increased 27 per cent to $113.1 billion, below most Wall Street forecasts, sparking a slide of some five per cent in after-hours trading.

Andy Jassy, who took over as chief executive earlier this month from Jeff Bezos, said Amazon remained focused on delivering goods and services for consumers during the pandemic.

“Thank you to all of our passionate, innovative, mission-driven employees around the world for continuing to stay focused on delivering for customers,” Jassy said in an earnings release.