AMZN stock

2022 - 10 - 27

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Image courtesy of "CNBC"

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%.

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Image courtesy of "Bloomberg"

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.

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Image courtesy of "FXStreet"

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

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Image courtesy of "Seeking Alpha"

Amazon stock dives over 20% on downbeat sales forecast (Seeking Alpha)

Amazon (AMZN) shares erased hundreds of billions in market cap in Thursday's extended session after offering a less than optimistic forecast for the fourth ...

(AMZN)](/symbol/AMZN?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AAMZN) [EBAY](/symbol/EBAY?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AEBAY), [W](/symbol/W?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AW), [ETSY](/symbol/ETSY?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AETSY), [FTCH](/symbol/FTCH?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AFTCH), [CHWY](/symbol/CHWY?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACHWY), [RIVN](/symbol/RIVN?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ARIVN)By: [Kevin P. The earnings release added that third quarter net income includes a pre-tax valuation gain of $1.1B from the company’s investment in Rivian Automotive ( Additionally, operating income is expected to be between $0 and $4B. “There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets.” The Seattle-based tech giant posted a mixed third quarter result wherein net sales came in at $127.1B and earnings per share reached $0.28. Indeed, the over 20% drop equates to about the market cap of Meta Platforms after its own plunge on Thursday.

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