Amazon reports boost in quarterly profits but misses revenue estimates

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending its stock lower in after-hours trading.

The Seattle-based tech company said it earned $13.5 billion for the April-June period, higher than the $10.99 billion industry analysts surveyed by FactSet had anticipated. Amazon earned $6.7 billion during the same period last year.

Earnings per share for the second quarter came out to $1.26, higher than analysts' expectations of $1.03.

However, investors reacted negatively to other results, leading Amazon shares to fall more than 6% after the closing bell. The company posted revenue of $148 billion, a 10% increase that fell slightly below analyst expectations of $148.67 billion.