Amazon.com Inc. (NASDAQ: AMZN) reported first quarter 2013 results after markets closed today. The online retailer posted diluted earnings per share (EPS) of $0.18 and revenues of $16.07 billion. In the first quarter of 2012, Amazon reported EPS of $0.28 on revenues of $13.18 billion. Bookings totaled $229.82 million in the quarter, far short of $329.16 million in the year-ago quarter. The Thomson Reuters estimates called for EPS of $0.09 on $16.16 billion in revenue.
The company forecast second quarter revenues in the range of $14.5 to $16.2 billion, compared with the consensus estimate of $15.94 billion. Amazon also forecast operating income of between a loss of $340 million to a profit of $10 million. In the first quarter the company’s operating income was $181 million and net income totaled $82 million.
The fall in operating income is attributed to an estimated $340 million charge for stock-based compensation and amortization of intangible assets. But even the top end of the operating income estimate is not anywhere near a positive net income number. The current consensus EPS estimate calls for earnings of $0.22 a share. That’s hopeless.
Amazon’s CEO chose to beat the drums for the company’s Amazon Studios and its crowd-sourcing method for choosing which of 14 pilot programs to produce for the company’s streaming video programming. It does not bear repeating here.
Shares are up about 0.7% in after-hours trading, at $276.57 in a 52-week range of $191.60 to $284.72. Shares closed at $274.70 today. Thomson Reuters had a consensus analyst price target of around $315.50 before today’s report.
The Modern Investment App For a Richer Tomorrow (Sponsored)
Robinhood set out to democratize investing to individuals, and it’s not slowing down. The app makes it possible to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
With FDIC insurance ,an award winning design, and benefits like IRAs and more, Robinhood could be your path to a richer tomorrow.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.