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Business, Stocks

“Amazon shares slide on revenue miss, disappointing guidance for third quarter” [Aug 1 2024]

Amazon reported weaker-than-expected revenue for the second quarter on Thursday and issued a disappointing forecast for the current period. The shares slid as much as 6% in extended trading.

Here’s how the company did:

  • Earnings: $1.26 per share vs. $1.03 per share expected by LSEG
  • Revenue: $147.98 billion vs. $148.56 billion expected by LSEG

Wall Street is also looking at these key numbers:

  • Amazon Web Services: $26.3 billion vs. $26 billion in revenue, according to StreetAccount
  • Advertising: $12.8 billion vs. $13 billion in revenue, according to StreetAccount

Amazon forecast revenue in the current quarter to be between $154 billion and $158.5 billion, representing growth of 8% to 11% year over year. The mid-point of that range, $156.25 billion, trailed the average analyst estimate of $158.24 billion, according to LSEG…”

https://www.cnbc.com/2024/08/01/amazon-amzn-q2-earnings-report-2024.html

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