Oct 22
Amazon Announces 3Q Earnings!
Amazon announced 3rd quarter numbers today after the close of the market and quickly saw it’s shares lose 12% in after hours trading.
You know that I’ve been very bullish on Amazon as a business and it appears they are not immune to the economic slowdown, though they fared better than many of their peers.
Here are the numbers:
Net sales increased 31% to $4.26 billion in the third quarter, compared with $3.26 billion in third quarter 2007 - Wall Street was looking for $4.27 billion so they missed the estimate.
Net income increased 48% to $118 million in the third quarter, or EPS of $0.27 per diluted share, compared with net income of $80 million, or $0.19 per diluted share, in third quarter 2007. - The Street was looking for EPS $0.25 So they beat on the bottom line.
The problem comes with their 4th quarter guidance. Much like with eBay, Amazon is expecting […]