Amazon earnings up despite economy

Co.'s net income surged to $158 million

Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online.

Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew 31% to $2.41 billion.

Netco’s strong showing, helped in part by a one-time $53 noncash gain in the sale of its Euro DVD biz, follows mixed results from other tech outfits. Amazon also raised full-year revenue projections, but even its execs cautioned against reading too much into its results about the strength of the economy.

Netco last week a added video-on-demand streaming to its Unbox download offerings. VOD service allows consumers to stream TV episodes and pics immediately. Amazon’s Unbox has yet to take off with consumers. Apple immediately surpassed it after inking a series of rental and sales deals with major studios for their latest movie releases earlier this year.

More Digital

  • YouTube logo

    YouTube Streams Over 180 Million Hours to TV Screens Every Day

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Trump Davos

    Trump Tariffs Could Make Apple Watch, Sonos Speakers More Expensive (Report)

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • ABC - More In Common

    ABC Hopes Feel-Good Series for Facebook About Americans Uniting Goes Viral

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Disney Cycles VR Short Film

    Disney Animation's First VR Film, 'Cycles,' Set to Premiere

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Beta Film Boards ‘The Pier,’ from

    Beta Film Boards ‘The Pier,’ from ‘Casa de Papel’ Creator Alex Pina

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

  • Michelle Kempner

    BuzzFeed Entertainment Operations Head Michelle Kempner Exiting for Facebook

    Higher gas prices may be helping, rather than hurting, Amazon. Netco said on Wednesday that its second-quarter earnings doubled and revenue jumped 41% as more consumers apparently did their shopping online. Its net income surged to $158 million, from $78 million, as revenue jumped 41% to $4.06 billion. Sales of books, music and movies grew […]

More From Our Brands

Access exclusive content