Of money
Huge miss: Amazon missed forecasts, going down after trading
Amazon has posted its worst quarter in the last 3.5 years and missed the earnings forecast hugely - $ 6.12 per share instead of 8.92 as expected.
Fell more than 5 percent after trading
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Thursday, 28 October 2021, 23:34 Updated: 23:43
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In the previous quarter, Amazon missed earnings forecasts and fell 8 percent the day after.
It seems that in the third quarter her fate will be similar, after she missed again - and that was a very big miss.
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No longer what it was in the Corona period.
Amazon (Photo: ShutterStock)
The forecast for the third quarter was a net income of $ 8.92 per share, and Amazon was very, very far away.
A return to routine in all sectors appears to have resulted in reduced use of the platform, and earnings per share totaled only $ 6.12.
The result is the company's worst quarter since the Corona broke out in early 2020. It should be noted that the body that is dragging Amazon into profit is AWS, its cloud services platform, which if it were not, Amazon would have recorded a negative profit.
Turnover stood at $ 110.8 billion compared to an expectation of $ 111.6 billion.
Amazon's gross profit was 4.4 percent - its worst bottom line since March 2018. The market responded well to this bottom line, with the stock falling more than 5 percent after trading.
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