Amazon (NASDAQ:AMZN) earnings for the online retailer’s third quarter of 2019 have AMZN stock taking a beating on Thursday. This comes from its diluted earnings per share of $4.23 That compares poorly to Wall Street’s estimates of $4.62. Revenue of $69.98 at least didn’t do further damage by beating analysts’ estimates of $68.81 billion.
Now for a more thorough breakdown of the most recent Amazon earnings report.
- Diluted EPS comes in 26.44% lower than the $5.75 reported during the same time last year.
- Revenue is up 23.68% from the $56.58 billion reported in the third quarter of 2018.
- The Amazon earnings report also has operating income coming in at $3.16 billion.
- This is a 15.05% drop compared to an operating income of $3.72 billion from the same period of the year prior.
- The company’s net income for the quarter is $2.13 billion.
- That’s a 26.04% decrease from its net income of $2.88 billion in the third quarter of the previous year.
Amazon founder, President and CEO Jeff Bezos says this about the Q3 AMZN stock earnings.
“We are ramping up to make our 25th holiday season the best ever for Prime customers — with millions of products available for free one-day delivery.”
That may be Bezos’ take, but the guidance for Q4 2019 isn’t as energetic looking. AMZN is expecting revenue to range from $80.00 billion to $86.50 billion for the quarter. This is below Wall Street’s estimate of $87.37 billion for the period.
Amazon is also planning to hold a conference call later today to go over these results. This call will take place at 5:30 p.m. Eastern Time.
AMZN stock was down 6.61% in after-hours trading on Thursday. It closed out the day up 1.06%. The stock is also up 14.49% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
