Amazon rockets up more than 14% on earnings beat

Amazon's just reported its Q2 earnings, beating expectations on both the top and bottom line, sending the stock shooting up more than 14% after hours.

Here are the most important numbers:

• Revenue: $23.18 billion versus analyst estimates of $22.39 billion. That's up 20% year-over-year
• EPS: $0.19 versus analyst estimates of -$0.14

Amazon's net income of $92 million compares to a loss of $126 million at this time last year.

Analysts were expecting more losses this quarter, and the surprise profits have the stock going bananas.

Operating cash flow increased 69% to $8.98 billion and free cash flow increases to $4.37 billion. Amazon's expecting net sales next quarter between $23.3 billion and $25.5 billion, and EPS between `$480 million and $70 million.

This will be the first earnings call led by new CFO Brian Olsavsky, who took over for Thomas Szkutak in mid-June. Let's see how he does!

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