Amazon.com posted quarterly net profit Tuesday that leaped a surprising 250 percent as sales rose 35 percent and subscriptions to the online retailer's discount shipping program accelerated, sending shares up about 12 percent after-hours.
The company also raised its forecast for full-year sales.
Net income in the second quarter rose to $78 million, or 19 cents per share, compared with $22 million, or 5 cents a share, a year earlier. Revenue rose to $2.89 billion in the second quarter, which is seasonally the slowest.
Analysts forecast that Amazon would report a profit of 16 cents a share on sales of $2.81 billion, according a consensus estimate from Thomson Financial.
In April, Amazon said it expected second-quarter revenue of between $2.7 billion and $2.85 billion.
In the same period last year, the online retailer turned in earnings of 5 cents a share and garnered revenue of $2.139 billion.
For the third quarter, the company said it expects net sales in a range of $3.0 billion to $3.18 billion, with operating income in a range of $75 million to $110 million.
Amazon said it now expects full-year sales in a range of $13.80 billion to $14.30 billion. Previously, the company said it expected a range of $13.4 billion to $14.0 billion.