“Amazon shares slide on revenue miss, disappointing guidance for third quarter” [Aug 1 2024]
August 5, 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