Sunday , June 16 2019
Home / unitedstates / Amazon sales sales were better than expected, producing a profit of $ 3 billion

Amazon sales sales were better than expected, producing a profit of $ 3 billion



Amazon.com Inc.

AMZN, + 2.89%

record fourth-quarter earnings and earnings, but stock-offs were offset by mild gains and losses as the company's outlook for the current quarter was below expectations. The online retailer posted a net profit of $ 3 billion, $ 6.04 per share, with sales of $ 72.4 billion. This is from a profit of $ 3.75 per share on the sale of $ 60.5 billion in the holiday season in 2017 and better than analysts expected. On average, analysts expected earnings of $ 5.65 per share in revenues of $ 71.88 billion, according to FactSet. Amazon predicted net sales in the first quarter of $ 56 billion to $ 60 billion, which is lower than analysts expected. Analysts have estimated the expected revenue of $ 60.83 billion in the first quarter before the FactSet report. Amazon predicted revenue of $ 66.5 billion for the fourth quarter to $ 72.5 billion, and then reached the very top of this range. Amazon's stock gained less than 1% in instant trading after the end of the report, but soon dropped to about 1%. Amazon's stock rose 17.8% in the past year, the S & P 500 index

SPX, + 0.86%

fell 5.1 percent, before Thursday's session, when Amazon closed a 2.9 percent higher price of $ 1,718.73.

Send messages to your inbox. Sign up for free MarketWatch newsletters. Sign up here.


Source link