Consumer Discretionary

Amazon.com (NASDAQ:AMZN) Sees Q3 Revenue $138B-$148B Vs $138.25B Est.

Amazon.com (NASDAQ:AMZN) reported Q2 earnings  of $0.65 per diluted share, swinging from a loss of $0.20 a year earlier. Analysts polled by Capital IQ expected earnings of $0.34. Net sales for the quarter ended June 30 were $134.38 billion, up from $121.23 billion a year earlier. Analysts surveyed by Capital IQ expected $131.34 billion. The company said it expects Q3 net sales to range between $138 billion and $143 billion. Analysts surveyed by Capital IQ expect $138.29 billion.

Amazon.com (NASDAQ:AMZN) Company Management Andrew Jassy – President, CEO & Director Brian Olsavsky – SVP & CFO Dave Fildes – Director, IR Analysts Brent Thill – Jefferies Brian Nowak – Morgan Stanley Colin Sebastian – Robert W. Baird & Co. Douglas Anmuth – JPMorgan Chase & Co. Eric Sheridan – Goldman Sachs Group Mark Mahaney – Evercore ISI Operator [Operator Instructions]. And our first question comes from the line of Colin Sebastian with Baird. Colin Sebastian I guess first on the fulfillment efficiency. Would be curious if you could give us a sense for how much of that optimization in the network with unit economics may have already been achieved in these numbers versus how much more you think is left to go. And related to that, I’m curious if you can leverage this reformulated network to help out with the grocery expansion. Or will that be limited to the