Miss expectations: AMZN Q3 2021 Highlights
On October 29, $Amazon(AMZN.US$ released its Q3 earnings that miss the estimates, and the management gave an pessimistic outlook, followed by a 2.15% drop. Let's see what happened.
Financial Highlights
-Net sales increased 15% YoY to $110.8 billion, vs. $111.599 billion estimates.
-Net income decreased 40% to $3.2 billion YoY.
-EPS $6.12 vs. $8.92 estimates, a -31.40% surprise.
Operating & Business Highlights
-AWS growth accelerated to 39% year over year.
-Amazon kicked off the holidays early this year, announcing Black Friday-worthy deals on October 4.
-Amazon Games launched New World, a multiplayer online PC game, becoming the highest-played new game this year on Steam.
-Prime Video announced that The Lord of the Rings series will premiere September 2, 2022 on the streaming service.
Outlook
Q4 2021 Guidance:
-Net sales are expected to be between $130.0 billion and $140.0 billion, or to grow between 4% and 12% compared with fourth quarter 2020.
-Operating income is expected to be between $0 and $3.0 billion, compared with $6.9 billion in fourth quarter 2020.
-Nearly $1 billion year-over-year increase in Q4 for spend to support our digital media content efforts, including video, music, and games.
-Expect to incur several billion dollars of additional costs in our Consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs.
What's your thought on AMZN Q3 earnings? Which way will the stock price go?
We can't wait to see your comments.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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GoldenGold : The slowdown in year-on-year growth will continue in the next few quarters