Amazon’s Blowout Quarter, Plus Opendoor Turns a Profit 8/4/23

Shares of Amazon are rocketing today, on pace for its best day since November after reporting a blowout second quarter and issuing upbeat guidance. It beat on the top line and notched its biggest bottom line beat since 2020, boosted by CEO Andy Jassy’s aggressive cost-cutting efforts. Shares of Opendoor though, headed the other direction – plummeting more than 20% on a steep revenue decline despite managing to turn a profit. We asked CEO Carrie Wheeler in her first broadcast interview since assuming the position about the quarter, the state of the iBuying business model in today’s market, and more.