Most ETFs with heavy Amazon exposure are experiencing an uptick today as the online retail company reported its second-quarter earnings on Thursday, trouncing expectations with an earnings per share figure of $5.07 as opposed to the consensus estimates of $2.50 EPS.
As of 11:30 a.m. ET, Consumer Discret Sel Sect SPDR ETF (NYSEArca: XLY) was up 0.41%, Vanguard Consumer Discretionary ETF (NYSEArca: VCR) was up 0.14%, iShares US Consumer Services ETF (NYSEArca: IYC) was up 0.28% and VanEck Vectors Retail ETF (NYSEArca: RTH) was up 0.39%. ProShares Online Retail ETF (NYSEArca: ONLN) has the heaviest weighting of Amazon at 24.83%, but it was in the red 0.93%.
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Amazon missed on revenue, posting $52.9 billion versus analyst expectations of $53.41 billion. Nonetheless, it didn’t affect negatively impact its stock price as it was up as much as 3.6% on Friday following the earnings report.
Amazon attributes its growth to its high-margin business operations, such as its cloud and advertising. Amazon CFO Brian Olsavsky also cited more efficiency in Amazon’s warehouses and data centers, and growth of its higher-margin third party marketplace.