Amazon earnings recap: Stock falls on murky guidance and AI competition despite Q2 earnings beat
But Amazon said its operating income for the third quarter would be between $15.5 billion and $20.5 billion, potentially lower than analysts' estimate of $19.41 billion, souring the mood.
During the company's earnings call, CEO Andy Jassy gave broad and lengthy responses to questions about how Amazon is responding to AI competition.
Shares of the Seattle-based company sank 7% in after-hours trading on Thursday.
Executives also fielded questions about tariffs during the call.
Jassy said the company hasn't seen much effect in the first half of 2025 and pointed to the company's strong Prime Day results as evidence that shoppers are still placing orders despite the threat of tariff costs.
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