Amazon Q3 reports beat earnings, revenue

Amazon q3 reports beats earnings, revenue

On Thursday, Amazon, the giant conglomerate, posted its quarter three earnings that beat experts’ predictions after the coronavirus led pandemic boosted the firm’s e-commerce operations. The US giant announced revenue of $96.15 billion and EPS of $12.37 as compared to forecasted $92.6 billion and earnings per share of $7.37.

Amazon stocks are trading 73% high since the beginning of 2020, 9.60% down from its $3552.25, i.e. 52-week high point, recorded on 2nd September. However, the firm is performing better than the S&P 500 index, which is trading at 2.43% up from the start of the year.

Income for the Q4 is forecasted to be between $1B and $4.5B (including its $4 billion expenses due to COVID-19) as compared to $3.9 billion for the same year in 2019.

The firm’s cloud revenue arm, Amazon Web Services, rose to $11.9 billion from $9B and North American net sales rose from $42.6 billion to $59.4 billion, thus, performing better than expected forecast of $57 billion. Further, net sales are also expected to grow between 28% and 38%, or $112 B and $121 billion.

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