Friday, 16 November, 2018

Amazon.com Earnings: Strong Results, Modest Guidance

Amazon Falls After Missing Sales Forecast Amazon sinks as revenue growth disappoints
Orlando Vargas | 26 October, 2018, 19:08

It forecast that fourth-quarter sales will rise between 10 percent and 20 percent, or up to $72.5 billion. Analysts surveyed by Zacks had expected revenue of $73.87 billion.

"Overall, Amazon's growth trajectory remains solid, including advertising, grocery, pharmacy, and specialty retail, as well as Amazon Business ($10 billion in sales in eight countries) and Amazon Web Services", Telsey Advisory Group analysts said. Wall Street had projected $US73.8 billion before the report. "So those are a couple factors that hit the global growth area in particularly", said Brian T. Olsavsky, chief financial officer at Amazon.

Alphabet gained 5.8 percent this year before Thursday and traded at 24 times expected earnings over the next year. In the holiday period past year, Amazon saw sales of $60.5 billion.

Q4 EPS (forecast): The company didn't provide earnings guidance for the holiday period. Capital expenditures soared to $5.3 billion from $3.5 billion past year, with 20 data centre sites in development, Porat said. Analysts had previously forecast it would earn $US5.79 a share in the quarter. According to Redseer consulting, Flipkart accounted for 51% marketshare, while Amazon stood at 32%, with the etailing industry raking in $2.3 billion GMV. Its not getting much attention but the unit has grown 123 percent YoY and this business is perhaps the highest margin in the entire Amazon stable.

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Alphabet reported net profit of $9.2 billion, or $13.06 per share, compared with $6.7 billion, or $9.57 per share in the year-ago quarter.

Meanwhile, in Amazon's North America segment, net sales in Q3 came to $34.35 billion, up 35 percent year-over-year. That purchase happened in the middle of the third quarter last year, which meant that Amazon included only about a month's worth of Whole Foods' revenue in its third-quarter results last year, versus a whole quarter's worth this time around. "We're very happy not only in the strong membership numbers", Olsavsky said Thursday, "but also in the continued strength of engagement" of Prime's shipping benefits and Prime Video. This was its slowest quarterly growth in more than a year and considerably below market expectations of $57.1 billion.

"We continue to invest in Prime benefits and worldwide expansion", the company said during the call.

Amazon's stock closed regular trading up $117.97 a share, or 7.1%, to $1,782.17. Its "other" revenue, which largely comprises advertising sales, jumped 122% to $2.5 billion.

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