Every analyst, from ever notable firm. All wrong.
NOBODY has a clue about anything. Change my mind?
Amazon falls 7% after-hours after earnings miss
Amazon (AMZN) reported third quarter earnings on Thursday that missed on profit but exceeded Wall Street’s revenue expectations, with sales getting a boost from Prime Day deals, the implementation of one-day shipping and a bevy of new Echo and Fire TV devices.
Yet the weak results sent the retail giant’s shares, which ended trading at $1,780.78, tumbling over 7% in post-market trading.
Here were the key numbers, according to a consensus forecast from Bloomberg:
Revenue: $70 billion vs. $68.7 billion expected
GAAP earnings per share: $4.23 vs. $4.58 expected
Amazon Web Services: $9 billion vs. $9.19 billion expected
Much of the quarter’s upside was driven by Amazon Prime’s higher membership price tag, and the rollout of free next-day delivery announced in April — leading to a 24% boost in sales and cash flow from the comparable year-ago quarter.