Following the bell, Amazon released its earnings. These are what came out.
Earnings per share: 94 cents compared to LSEG’s (previously Refinitiv) projected 58 cents per share.
Revenue: $143.1B compared to LSEG’s projected $141.4B.
Business divisions will also be of interest to investors.
StreetAccount estimates that Amazon Web Services will make $23.2 billion in revenue.
Advertising: according to StreetAccount, $11.6 billion in revenue is anticipated.
Due to increased inflation and economic worries, Amazon’s growth fell significantly the previous year. Although it has picked up slightly in 2022, it is still below average for the firm. With consumers slowly increasing their discretionary spending, Amazon’s retail division is predicted to show some progress.
In the third quarter, analysts anticipate overall sales growth of 11%, which would represent a minor acceleration over the previous two quarters. Before customers started going back to traditional establishments, e-commerce sales had a meteoric rise during the epidemic.
Investors will be paying special attention to any commentary regarding the fourth quarter, which happens to encompass the crucial holiday season. The outcomes of Amazon’s Prime Day sequel, which happened in October and “outpaced” the previous year’s event, will also be included in the December quarter, as per the firm.
According to LSEG’s survey, analysts are expecting revenue of $166.6 billion, up about 12% from the previous year, and fourth-quarter earnings per share of 66 cents.
Source (CNBC)
