Amazon: Q3 below expectations
(CercleFinance.com) - Published in the night, the US e-commerce giant Amazon's Q3 results have actually fallen short of market expectations for once.
The group posted net income of 2.1 billion dollars over the period, i.e. 4.23 dollars per share. These two figures are lower than their levels last year (respectively 2.9 billion dollars and 5.75 dollars respectively).
Indeed, the consensus was expecting the group's income to fall - although by less - with analysts looking for EPS of 4.59 dollars (8.5% above reported figure).
Meanwhile, sales increased by 24% y-o-y to 70 billion dollars.
Regarding its outlook for the current quarter - the highlight of the year for online commerce with the oncoming festive season - Amazon expects net sales of between 80 billion and 86.5 billion dollars, up between 11% and 20% compared to the fourth quarter of 2018.
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