Amazon shares fall after big earnings miss

“Amazon just reported its second quarter earnings Thursday after the bell,” Eugene Kim reports for CNBC. “It’s a beat on revenue but a miss on earnings. Amazon stock is down around 2% in after hours trading.”

“EPS: $0.40 per share vs. $1.42 per share expected, according to consensus estimates from Thomson Reuters,” Kim reports. “Revenue: $38.00 billion vs. $37.18 billion expected, according to Thomson Reuters; Amazon Web Services (AWS) revenue: $4.1 billion vs. $4.08 billion expected, according to FactSet.”

“Amazon continued to show healthy growth with a 25% jump in revenue. But its profit took a big hit as the company keeps investing in a number of new areas, like video and international expansion,” Kim reports. “The results come as Amazon CEO Jeff Bezos just surpassed Microsoft cofounder Bill Gates to become the richest person in the world. ”

Read more in the full article here.

MacDailyNews Take: So, Bezos’ first reign as the world’s richest person may be short-lived – ending on tomorrow’s opening bell – even as it’s virtually inevitable that he’ll reclaim the throne from Bill Gates in relatively short order.

SEE ALSO:
Amazon’s Jeff Bezos deposes Microsoft’s Bill Gates as world’s richest person – July 27, 2017

14 Comments

      1. sad to say what you noted has so much truth that even the usually divisive MDN crowd seem to be in unanimous agreement…..

        (aapl investor for a decade)

    1. Elementary: I suspect it dropped along with Alphabet et al. beginning at 12:26 p.m., after news of the Amazon earnings miss apparently leaked out and began affecting the AMZN stock price around 12:05 – 12:20 p.m. Check out the charts. The machine trading now links tech stocks in lock step, so the Amazon contagion presumably quickly spread to Apple.

      1. TaosBob – You are Right on the money with that explanation.. Question.. When did you first hear the story of the AMZN Earnings Leak? and what was your source on that? thanks for any tip..

  1. Bezos is a neocon/neolib oligarch that uses his WaPo newspaper to wage his CIA-contracted deep state/permanent government propaganda, including the support of regime change coups and proxy wars around the world such as in Honduras, Libya, Ukraine and Syria.

    For example, Just yesterday WaPo mourned the fact that Trump has stopped CIA’s program to arm and train Al-Qaeda and its clones in Syria.

  2. Don’t worry about AMZN’s profit margin. The Amazon killed the Walmart killed the regional chains killed the mom and pop, and once every other retail outlet is gone, they can charge whatever is clever.

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