Jeff Bezos, CEO of Amazon.

The US based e-commerce giant, Amazon today released its quarterly earnings statement which were ahead of Wall Street’s expectations.

The company reported earnings per share of $0.19, which were above the expectations of $-0.14 EPS from Wall Street. Amazon also reported revenue of $23.2 billion, which was 0.81 billion ahead of the projected $22.39 billion projections and is up from $19.34 billion last year.

Operating cash flow was up by 69% to $8.98 billion for the prior twelve months, compared with $5.33 billion for the twelve months ended June 30, 2014. Free cash flow increased to $4.37 billion for the trailing twelve months, compared with $1.04 billion for the trailing twelve months ended June 30, 2014.

Common shares outstanding plus shares underlying stock-based awards totalled 488 million on June 30, 2015, compared with 480 million one year ago.

Net sales were up 20% to $23.18 billion in the second quarter, in comparison to $19.34 billion in the second quarter of 2014. The numbers exclude the $1.39 billion impact from year-on-year changes in foreign exchange rates which weakened performance throughout the quarter whilst net sales increased 27% in comparison to the same period of 2014.

Operating income was $464 million in the second quarter, compared with an operating loss of $15 million in the second quarter of 2014. Net income was $92 million in the second quarter, or $0.19 per diluted share, compared with net loss of $126 million, or $0.27 per diluted share, in second quarter 2014.

“The teams at Amazon have been working hard for customers,” said Jeff Bezos, founder and CEO of Amazon.com, in a statement. “We unveiled Amazon Business, opened Amazon Mexico, launched Prime free same-day, rolled out our ninth Prime Now city, broke our Black Friday record with the first-ever Prime Day, received 11 Emmy nominations for ‘Transparent,’ debuted six new kids pilots, brought Echo to general availability, introduced the Alexa Skills Kit and Alexa Voice Service, opened FBA Small and Light, continued to double down on our fastest growing geography — India, launched 350 significant AWS features and services so far this year (ahead of last year’s pace), introduced AWS Educate, and entered into agreements for new solar and wind farms — enough to exceed our 2016 goal of 40% renewable energy.”

Amazon praised its Prime Day earlier this month (July 15), which gained them more new Prime customers than any other single day in the company’s history.

Amazons subsidiary Amazon Web Services (AWS), which is the biggest public cloud currently available, generated an impressive $1.82 billion in revenue in the second quarter of 2015. An 81 percent growth in revenue year on year showing a tremendous uptake in their AWS. For the full year which ended on June 30, Amazons cloud services brought in $5.97 billion.

Amazon released the below forward-looking statement which they stated “reflects Amazon.com’s expectations as of July 23, 2015, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic conditions and customer spending, world events, the rate of growth of the Internet and online commerce, and the various factors detailed below.”

Net sales are expected to be between $23.3 billion and $25.5 billion, or to grow between 13% and 24% compared with third quarter 2014.

Operating income (loss) is expected to be between $(480) million and $70 million, compared to $(544) million in third quarter 2014.

This guidance includes approximately $580 million for stock-based compensation and amortization of intangible assets, and it assumes, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded and that there are no further revisions to stock-based compensation estimates.