Amazon.com…. Earnings Disappointment (AMZN)
Online retail giant Amazon.com Inc. (NASDAQ: AMZN) just reported earnings of $0.32 EPS and revenues of $4.65 billion, Thomson Reuters had estimates for Bezos & Friends pegged at $0.32 EPS (rounded up) on $4.69 billion in revenues. Its operating income…
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We had some last minute whisper numbers that were closer to $0.36 and $4.8 billion. This news from the company flies directly against every indication we had seen in trading activity today.
As far as guidance, the company is targeting a range of $120 million to $210 million for operating income and $4.75 billion to $5.25 billion in revenues. Thomson Reuters had estimates pegged at $0.32 EPS and $4.92 billion in revenues.
Amazon closed up unofficially by 5.7% at $93.87, a 52-week high. We said that the trading reaction would be more than a disappointment if Amazon did not post a blow-out quarter, and that is exactly what we are seeing in the after-hours session. Shares are trading around $88.75 in the early after-hours trading session.
JON C. OGG
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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