Amazon.com Inc on Thursday reported quarterly profit and revenue that topped Wall Street expectations as the online retailer benefited from strong demand for its cloud services and Prime membership program during the COVID-19 pandemic.
The company’s shares jumped 7% in extended trading as Amazon forecast sales would continue to grow in the current quarter despite a potential hit from new lockdowns in Europe.
Even with the pandemic, which has forced people indoors and spurred a surge in e-commerce shopping, analysts have been concerned that Amazon’s growth was starting to slow down.
But the company said it continues to invest heavily in areas such as logistics, warehouses, content and delivery speed to keep up with customer demand.
Amazon’s quarterly earnings are out, and the company posted a record profit of $3.6 billion. That’s up from $2.4 billion in the same period last year. Revenue also hit a record high, coming in at $96.1 billion.
That’s up from $87.4 billion in the same period last year.
Amazon had a big quarter, thanks in part to its growing cloud computing business and strong holiday sales. The company’s shares were up more than 5% in after-hours trading on Thursday following the release of its earnings report.
Here are some key numbers:
EPS: $7.09 vs. $5.01 expected by analysts, according to Thomson Reuters
Revenue: $96.15 billion vs.
$94 million expected by analysts, according to Thomson Reuters
AWS revenue: $9 billion vs.$8 million expected by analysts, according to FactSet
Operating income: $4 .5 billion vs.$3 million expected by analysts, according to FactSet
Amazon had a great quarter and surpassed expectations across the board.
Its stock was up 5% in after-hours trading on Thursday as a result..
Amazon Q3 Earnings
Amazon.com, Inc. (NASDAQ: AMZN) announced its financial results for the third quarter ended September 30, 2018. Operating cash flow increased to $32.9 billion for the trailing twelve months, compared with $30.7 billion for the trailing twelve months ended June 30, 2018. Free cash flow increased to $22.4 billion for the trailing twelve months, compared with $19.5 billion for the trailing twelve months ended June 30, 2018.”
“Net income was $2.88 billion in the third quarter, or $4.72 per diluted share, compared with net income of $252 million, or $0.40 per diluted share, in third quarter 2017.”
“Operating income was $3.70 billion in the third quarter, compared with an operating loss of $(544) million in third quarter 2017.”
“Net sales increased 29% to $56.6 billion in the third quarter,” said Jeff Bezos , Amazon founder and CEO .
Credit: www.spiceworks.com
What are Amazon Quarter Dates for 2022?
2022 Amazon Quarter Dates
January 28 – March 31 (1st Quarter)
April 1 – June 30 (2nd Quarter)
July 1 – September 30 (3rd Quarter)
What are the Quarter Dates for Amazon?
The quarter dates for Amazon are January 1st, April 1st, July 1st and October 1st.
Will Amazon Beat Earnings Q4?
The fourth quarter is typically Amazon’s busiest and most profitable time of year, thanks to the holiday shopping season. Analysts are expecting Amazon to report earnings of $4.04 per share on revenue of $87.39 billion for the fourth quarter. That would represent a 28% increase in earnings and a 38% jump in revenue compared to the same period last year.
If Amazon meets or exceeds those expectations, it will likely be due in part to strong sales of its Echo smart speakers and other Alexa-enabled devices, as well as continued growth of its Prime membership program. The company is also expected to benefit from its recent acquisition of Whole Foods Market, which should help boost sales of groceries and other items sold through its Prime Now service.
Did Amazon Beat Earnings?
Yes, Amazon did beat earnings. They reported a profit of $2.63 billion, or $5.07 per share, compared to the $1.88 billion, or $3.75 per share, that analysts were expecting. Revenue also came in above expectations at $72.38 billion versus the $71.87 billion that was forecasted.
What to expect from Amazon’s Q3 earnings
Conclusion
Amazon reported their quarterly earnings today, and they surpassed expectations yet again. Their revenue was $60.5 billion, which is up 34% from last year. They also had a net income of $3.6 billion, which is more than double what it was last year.
Amazon continues to grow at an incredible rate, and there’s no sign of them slowing down anytime soon.
