Retail monster Amazon.com reported much stronger June quarter revenue Thursday and raised guidance for Q3 sending the shares sharply higher. It was Amazon’s biggest earnings beat since Q4 2020 with the ongoing cost-cutting improving margins. Amazon was the last of the mega-cap tech companies to report, following Netflix, Microsoft, Apple, Intel, Meta and Alphabet. AMZN reported net income of $6.7 billion, or 65 cents a share, after recording a loss of $2 billion, or 20 cents a share, a year earlier. The year-ago loss was … Continue reading “Amazon Stock Surges 8% After Blow Out Earnings and Raised Guidance”
Retail monster Amazon.com reported stronger March quarter revenue Thursday and raised guidance for Q2 sending the shares sharply higher. Amazon stock was trading at 118.19 ▲ 8.37 (7.62%) after the release. Earnings were 31 cents per share v 21 cents per share expected on revenue of $127.36 billion vs $124.71 billion expected. AWS generated operating income of $5.1 billion in the quarter, AWS determines the company’s profitability as total operating income rose to $4.77 billion. The markets were already bulled up after … Continue reading “Amazon Advertising and AWS Cloud Computing Drive Earnings Higher than Expectations”
Retail monster Amazon.com reported weaker September quarter revenue Thursday and lowered guidance sending the shares sharply lower. Amazon stock was trading at $90.15 -20.81 or -18.75% after the release. The markets were already jittery after the META trainwreck the night before. Amazon recorded a $3.9 billion loss on its Rivian investment which led to a reported a loss of 20 cents per share on revenue of $121.23 billion vs. $119.09 billion expected. Amazon was the last of the mega-cap tech companies … Continue reading “More Tech Wreckage as Amazon Follows Meta Down After Misses on Revenue and Guides Lower”
Cloud data platform Snowflake reported better than expected 2nd quarter earnings Wednesday. $SNOW shares popped over 18% in extended trading. The software company raised FY23 product revenue guidance and raised non-GAAP gross margin guidance. When the Snowflake (SNOW) debuted on September 16, 2020, it became the largest software IPO in history. Snowflake Inc. NYSE: SNOW Reported Earnings After Close Wednesday Snowflake Q2 2022 Earnings Highlights EPS: Loss of 70 cents Revenue: $497 million vs. $467 million expected, according to Refinitiv, … Continue reading “Cloud Data Platform Provider Snowflake Forecasts Stronger Revenue Growth”
Retail monster Amazon.com reported much weaker September quarter earnings Thursday. $AMZN stock tumbled 4.5% after they guided much lower than expected. Amazon was already projected to grow at the slowest in the past decade but issued an even bleaker picture blaming labor and supply issues. This is the last quarter under which the e-commerce and technology giant’s founder Jeff Bezos was CEO, as longtime company exec Andy Jassy took over the top spot on July 5. Could this be the … Continue reading “Amazon Stock Tumbles After Missing Revenues, Guiding Far Below Consensus Expecting Labor Supply Issues To Hit Holiday Sales”
Retail monster Amazon.com is not slowing down with all the talk of inflation and supply constraints it is busy priming its workforce for the holiday season. $AMZN aims to hire 150,000 seasonal employees in the U.S. getting a jump ahead in the tight labor market.
Retail monster Amazon.com reported June quarter earnings Thursday,first report since founder Jeff Bezos stepped down, beating on earnings but missed on revenues. $AMZN stock tumbled after they guided much lower than expected. Q2 midline revenue of $109BN is projected to grow the slowest in the past decade.
Cloud data platform Snowflake, who launched it’s IPO last September reported Fiscal 4th quarter earnings Wednesday. $SNOW sold off after it’s full-year guidance did not exceed analysts’ estimates, a miss in a hugely overvalued technology sector. SNOW also announced an end to its dual-share class structure.
Cloud data platform Snowflake launched it’s IPO Wednesday under the symbol $SNOW and priced at $120 a share. It hit a high of $319 just after the open fueled by news Berkshire Hathaway and Salesforce bought shares in concurrent private sales.
Retail monster Amazon.com reported higher than expected fourth quarter earnings Thursday, beating on revenue and on EPS. $AMZN was up 10% on upbeat guidance now expecting higher revenue.