Amazon’s stock skyrockets to over $1,040 on strong earnings (AMZN)

business news

Thursday afternoon was tech earnings mania with Amazon, Alphabet, Intel and Microsoft all reporting earnings. All of them beat expectations across the board.

  • Google’s parent company Alphabet beat expectations on Q3 results, sending the stock popping after hours. The company generated $27.77 billion in revenue, up 24% from a year ago.
  • Intel beat analyst expectations in its third-quarter earnings report with revenues up 2% from the same quarter last year.
  • Microsoft’s fiscal first quarter earnings beat Wall Street expectation on both the top and bottom lines. Shares in the company, which reported its results after the closing bell on Thursday, inched up almost 4% to about $81.75 in after-hours trading.

Amazon also just released its third-quarter earnings report. It reported:

  • Revenue: Q3 2017 revenue of $43.7 billion, versus $42.19 billion expected. So that’s a beat.
  • EPS of $0.52 vs $0.52 last year.

Here’s what you need to know about Amazon earnings:

Revenue jumped 34% over the year ago quarter. Investors are happy. Amazon’s stock has jumped 7% in after-hours trading to about $1,037 a share.

That’s better news than last quarter when it missed Wall Street’s Q2 expectations and the stock dropped. The e-commerce giant is ramping up investments in warehouses, content for its Prime Video streaming service, and investments in international markets and in groceries, following its $13.7 billion acquisition of Whole Foods earlier this year.

Amazon’s all-important cloud computing unit reported $4.6 billion in revenue, up from $3.2 billion, up 34%. Wall Street has been concerned about slowing growth with AWS but it’s still growing well. 

For its fourth quarter, a major one that includes the holiday shopping season, Amazon predicts net sales between $56 billion and $60.5 billion.  So that’s growth between 28% and 38% compared with the fourth quarter 2016.

That forecast includes the impact from its acquisition of Whole Foods Market and it also includes a favorable foreign exchange rate. Operating income is expected to be between $300 million and $1.65 billion, compared with $1.3 billion in the fourth quarter 2016.

Here’s the full press release.

SEE ALSO: Microsoft and Amazon struck a brilliant partnership to take on Google in the next big thing for cloud computing

Join the conversation about this story »

NOW WATCH: Samsung released the widest computer monitor you can buy — here’s what it’s like

Комментариев нет

Добавить комментарий

Этот сайт использует Akismet для борьбы со спамом. Узнайте как обрабатываются ваши данные комментариев.

business news
Trump’s trade fight and the unwinding of a $3 billion bet are clobbering copper

Copper prices on the London Metal Exchange slipped below $6,000 for the first time in a year Thursday. Analysts say trade escalations are weighing on a market already under pressure. An unwinding of a $3 billion long position put pressure on prices earlier this month.  Follow copper in real time …

business news
Trump threatens to slam a massive tariff on European cars, which could cause economic chaos

President Donald Trump on Friday threatened to impose a 20% tariff on imports of cars from the European Union. The move would be a huge escalation of Trump’s ongoing trade conflict with the EU. Trump already hit Europe with steel and aluminum tariffs, angering EU leaders and triggering retaliation. President …

business news
Bitcoin’s rough patch looks like the Nasdaq during the tech bubble — except it’s moving 15 times faster

Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. The cryptocurrency’s price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there’s a catch. Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going …