5 Companies Making Headlines Following Earnings Reports

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN) appears to be in serious trouble after swinging to a loss in the first quarter and offering weak sales outlook for the current quarter. The e-commerce giant was primarily hit by higher costs and logistic constraints in the quarter.

Shares of Amazon.com, Inc. (NASDAQ:AMZN) plummeted to a nearly two-year low in the pre-market trading session on Friday, April 29, 2022, following the results.

Amazon.com, Inc. (NASDAQ:AMZN) reported a loss of $7.56 per share, compared to earnings of $15.79 per share in the first quarter of 2021. On the contrary, analysts were looking for earnings of $8.07 per share.

In addition, Amazon.com, Inc. (NASDAQ:AMZN) posted revenue of $116.44 billion, up 7 percent on a year-over-year basis and marginally above analysts’ average estimate of $116.3 billion.

Looking forward, Amazon.com, Inc. (NASDAQ:AMZN) expects to generate revenue in the range of $116 – $121 billion for the current quarter. However, the outlook missed the consensus of $125.5 billion with a big margin.

Discussing the results, CEO Andy Jassy said in a statement:

“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges. With AWS growing 34% annually over the last two years, and 37% year-over-year in the first quarter, AWS has been integral in helping companies weather the pandemic and move more of their workloads into the cloud. Our Consumer business has grown 23% annually over the past two years, with extraordinary growth in 2020 of 39% year-over-year that necessitated doubling the size of our fulfillment network that we’d built over Amazon’s first 25 years—and doing so in just 24 months.”

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