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Amazon misses Q2 profit estimates

AMAZON  has fallen short of second-quarter profit estimates as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players globally and invests more in marketing and faster delivery.

The company on Thursday forecast net sales in the range of $US66 billion ($A95 billion) and $US70 billion for the third quarter.

Analysts were expecting revenue of $US67.27 billion, according to IBES data from Refinitiv.

Net sales rose about 20 per cent to $US63.40 billion in the second quarter, beating estimates of $US62.48 billion.

Amazon's net income rose to $US2.63 billion, or $US5.22 a share in the quarter ending on June 30, from $US2.53 billion, or $5.07 a share, a year earlier.

Analysts were expecting a profit of $US5.57 a share, according to IBES data from Refinitiv.


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