Amazon.com Inc. (NASDAQ: AMZN) on Thursday posted second-quarter earnings per diluted share of 65 cents, blowing past estimates of 35 cents per share and more than tripling the second-quarter 2022 results.

Revenue year on year rose 11% to $134.4 billion. Operating income jumped to $7.7 billion from $4.4 billion. Net income was $6.7 billion, compared with a $2 billion net loss in the 2022 quarter.

Operating cash flow rose 74% to $61.8 billion for the trailing 12 months.

The second-quarter net income figures include a $200 million pretax valuation gain on Amazon’s share ownership in electric vehicle manufacturer Rivian Automotive. That was compared to a pretax valuation loss of $3.9 billion in the 2022 quarter.

Shares rose 6.6% in after-hours trading.

The post Amazon blows past EPS estimates, shares rise appeared first on FreightWaves.

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