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Amazon exceeded second-quarter earnings expectations, reporting $167.7 billion in net sales, surpassing analyst predictions of $162 billion. However, the projected third-quarter operating income of $15.5 billion to $20.5 billion fell short of analyst estimates, causing a 2.9% drop in after-hours share price. While third-quarter sales also exceeded expectations, investor concerns centered on the lower-than-anticipated operating income.

Prepared by Christopher Adams and reviewed by editorial team.