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Monster Tech Cos Report Monster Q2 Earnings: Amazon (AMZN), Alphabet (GOOGL) and More

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Two monster Internet companies -- Amazon (AMZN - Free Report) and Alphabet (GOOGL - Free Report) -- post monster Q2 earnings reports, and CBS Corp. and Wynn Resorts (WYNN - Free Report) put out positive results in their respective quarters, as well. Travel site Expedia (EXPE - Free Report) , however, was not quite as fortunate.

Amazon posted big beats overall on both earnings and sales: $1.78 per share easily topped the $1.14 per share expected, and revenues of $30.4 billion outperformed the $29.73 billion in the Zacks consensus. Both top and bottom lines were far ahead of year-ago numbers. However, shares fell 1% immediately after the earnings release, largely on an only slight uptick in AWS growth. Recall in Q1, Amazon's AWS business ramped up an eye-popping 64%. Since the initial after-market selloff, AMZN shares are now trading up 2+% in the late session. Here are two additional reports on AMZN earnings here - and here.

Alphabet also brought in big numbers for its fiscal Q2, posting earnings of $7.00 per share (accounting for stock-based compensation and other BNRI) on revenues of roughly $18.9 billion (ex-traffic acquisition costs), topping consensus estimates of $6.47 per share and $16.9 billion, respectively. Paid clicks rose 29% while costs per click fell 7%. This solid Q2 report caused GOOGL shares to leap 5% directly after the release. For more on GOOGL's earnings report, click here.

CBS bested estimates on earnings and sales in Q2 as well, with 93 cents per share topping 86 cents expected on $3.29 billion in revenues, above the $3.22 billion in the consensus. Entertainment and Local Broadcasting were responsible for the beat (perhaps the 2016 General Election season has something to do with this). CBS' bottom line also represents a 26% gain year over year.

Wynn Resorts was another company posting positive surprises on both the top and bottom. Beating on earnings by 10 cents to $1.07 and $1.06 billion in sales in the quarter ($1.01 billion was expected) was a direct result of surprising success in its Macau business. The Chinese gambling hub brought in $639 million in the quarter, a full $50 million more than analysts had expected.

Finally, online travel company Expedia posted mixed results for its Q2 earnings. While beating slightly on the bottom line, revenues for the quarter came up short. Though the copmany did announce a potential spin-off of its Trivago Internet travel service and raised its dividend by 2 cents, quarterly net income fell 93% year over year. Immediately following the report, EXPE shares fell 10%, but have since gained back close to half this amount.