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.