This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Revenues & Earnings Higher
US tech giant Amazon came out with a blistering set of Q3 earnings this week. Following on from the solid earnings beat in Q2, Amazon posted third-quarter earnings per share of $12.37, firmly beating expectations for a $7.41 EPS. This marks a 37% increase in earnings year on year for Amazon.
Revenues also rose firmly with the company posting record net-revenues of $96.15 billion. This comfortably beat expectations for $92.7 billion in revenues.
Finally, net income jumped to $6.3 billion over the quarter, marking a solid increase on the $2.1 billion posted in Q3 2019.
Strong Q4 Guidance
Looking ahead to the final quarter of the year, amazon forecast sales of between $112 billion – $121 billion. Sales in this range would mark a 28% – 38% increase on sales in the same period a year prior and would be above the $112.3 billion Wall Street is looking for.
Increased COVID Costs
The company is also forecasting operating income of $1 billion – $4...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.