AMZN

2022 - 10 - 27

Amazon stock sinks 16% on weak fourth-quarter guidance (CNBC)

Amazon missed on the top and bottom lines for the third quarter, and it gave weak fourth-quarter sales guidance.

Amazon reported net income of $2.9 billion in the third quarter, which includes a gain of $1.1 billion in non-operating income from its Rivian stake. Ad revenue surged 25% year over year to $9.55 billion during the quarter, which handily topped analysts' estimates of $9.48 billion. [took the helm](https://www.cnbc.com/2021/07/05/amazon-new-ceo-andy-jassy-takes-over-for-jeff-bezos.html) from founder [Jeff Bezos](https://www.cnbc.com/jeff-bezos/) in July 2021, Amazon has responded to rising expenses by [aggressively cutting costs](https://www.cnbc.com/2022/10/12/amazon-cost-cuts-under-andy-jassy-reflect-new-reality-after-25-years.html) across numerous divisions in recent months. [Apple](/quotes/AAPL/), which also reported on Thursday, beat on earnings and revenue but came up short in core product categories including the iPhone business and the services unit. [Alphabet](/quotes/GOOGL/) and Facebook parent [Meta](/quotes/META/) both posted earnings that fell short of expectations as they navigate challenges in the digital ad market. Amazon Web Services accounted for all of the company's profit, plus some, as the cloud unit generated operating income of $5.4 billion. Operating income at Amazon fell by almost half from a year earlier to $2.53 billion from $4.85 billion. Jassy said in the release that customer response to the new discount event, and Prime Day, hosted in July, was "quite positive." [Microsoft](/quotes/MSFT/) wasn't immune, reporting softer-than-expected cloud revenue and weak quarterly guidance. It's the second time this year Amazon's results have been disappointing enough to spark a double-digit percentage selloff. Like the rest of Big Tech, Amazon has had a rocky year so far as it confronts macroeconomic headwinds, soaring inflation and rising interest rates. Amazon said it expects to post fourth-quarter revenue between $140 billion and $148 billion, representing year-over-year growth of 2% to 8%.

Amazon Shares Plunge on Forecast for Sluggish Holiday Sales (Bloomberg)

Amazon.com Inc. projected sluggish sales for the holiday quarter as the e-commerce giant contends with slower growth and consumers cutting their spending in ...

Amazon Web Services, the cloud-computing division, and the advertising unit each reported muted third-quarter revenue growth by their lofty standards. The shares plunged about 13% in extended trading. Either figure would be the slowest increase ever for Amazon’s “Peak” season, which usually finds warehouse employees rushing to get orders out on time.

Listen to the Amazon (AMZN) Q3 2022 earnings call here (Shacknews)

Discover how Amazon (AMZN) has performed in Q3 2022 by listening to its earnings call.

However, with the good comes the bad as Amazon was also hit with a [$1 billion class action lawsuit](https://www.shacknews.com/article/132763/amazon-hit-1-billion-class-action-antitrust-lawsuit-uk) over antitrust allegations. The Amazon (AMZN) Q3 2022 earnings call is scheduled to begin at 2:30 p.m. Amazon will be releasing its Q3 2022 earnings results today and follow it up with an earnings call to discuss. The company has announced a new At the conclusion of the call, we will be updating this article with a VOD for those who need to listen again or for those who missed it. As one of the few companies in the world to join the $1 trillion club, it should come as no surprise that listening to how Amazon (AMZN) performs each quarter is a top priority.

Amazon Earnings Preview: AMZN stock sags ahead of Q3 earnings (FXStreet)

Amazon (AMZN) shed 2.6% at Thursday's open to trade at $112.65 ahead of third quarter earnings out after the close. Two sets of positive economic data.

The hourly charts show that the price is balanced at a critical juncture. The gold price is under pressure, forced back into a neutral zone on the daily chart. The author makes no representations as to the accuracy, completeness, or suitability of this information. The author will not be held responsible for information that is found at the end of links posted on this page. The BOJ will announce its decision on Friday. The author has not received compensation for writing this article, other than from FXStreet. Amazon stock definitely looks like it might droop a bit today and find solace again in the $101 to $109.50 range. It also does not guarantee that this information is of a timely nature. So far most analysts seem to think that management's guidance will be somewhat conservative as the US economy appears headed into a recession that would surely cut into the holiday shopping season. EPS revisions over the past quarter have seen 24 out of 31 analysts lower their forecasts for the third quarter. However, the focus on Thursday evening will fall firmly on Amazon Web Services (AWS), the company's cloud infrastructure segment. The insights here will lead analysts to adjust their

Amazon Joins Tech Carnage: Stock Hammered after 3Q Report (TipRanks)

Amazon (NASDAQ:AMZN) reported earnings for its third quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.28, which beat analysts' ...

[NASDAQ:AMZN](/stocks/amzn/forecast)) reported earnings for its third quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.28, which beat [analysts’ consensus estimate of $0.22 per share](/stocks/amzn/earnings). For reference, analysts had expected $155.37 billion.

Amazon.com, Inc. (AMZN) Q3 2022 Earnings Call Transcript (Seeking Alpha)

Amazon.com, Inc. (NASDAQ:NASDAQ:AMZN) Q3 2022 Earnings Conference Call October 27, 2022 05:30 PM ET Company Participants Dave Fildes - Vice President, ...

My message is that we have work to do in 2023, that we are aware of and working on today. And we're very optimistic about the fourth quarter, just realistic about whether we may have a range of outcomes that we just have to be ready for when we are. So we have to get our cost structure back to pre-pandemic levels in a lot of areas of the company and mostly in operations. But our inventory and our sellers, as we get ready for those events, paid off in the events themselves. On productivity, made good strides, but there's still a lot of work to do there and we know the job ahead of us. This is more about the other side of the equation, the supply chain and having more in stock. One is the drop-off in income for the trailing 12 months versus the 12 months before it, and a lot of that is driven to things that we've talked about on these calls. As far as new normal, we're working very hard to make sure that current profitability is not the new normal, and we'll see how quickly we can make improvements. And we continue to expand the AWS infrastructure footprint to support customers with the launch of the AWS Middle East region in August and the recent announcement to launch AWS Asia Pacific region in Thailand. I would say that although we had a 28% growth rate for the quarter for AWS, the back end of the quarter, we were more in the mid-20% growth rate. We do see some of the consumers are cutting their budgets and trying to save money in the short run. As you listen to today's conference call, we encourage you to have our press release in front of you, which includes our financial results as well as metrics and commentary on the quarter.