5 Stocks Making Headlines After Earnings Reports

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

Number of Hedge Fund Holders: 271

Amazon.com, Inc. (NASDAQ:AMZN) enjoyed massive growth last year following the Covid-19 outbreak. The pandemic-driven lockdown restrictions forced people to buy essential goods from online sites, including Amazon. The trend helped these companies achieve new growth milestones.

However, those online players are now finding it hard to keep up the growth pace they accomplished in 2020. The same thing happened with Amazon.com, Inc. (NASDAQ:AMZN) when it recently announced its financial results for the third quarter. The weak results sent its shares down nearly five percent in the pre-market trading session on Friday, 29 October 2021.

Amazon.com, Inc. (NASDAQ:AMZN) reported earnings of $6.12 per share, significantly down from $12.37 per share in the year-ago quarter. The drop was mainly attributed to tougher comparison on a year-over-year basis.

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Revenue for the quarter rose 15 percent versus last year to $110.8 billion. The results fell short of analysts’ average estimate of $8.90 per share for earnings and $111.55 billion for revenue. Looking forward, Amazon.com, Inc. (NASDAQ:AMZN) expects revenue in the range of $130 billion to $140 billion for the fourth quarter, below the consensus forecast of $142.1 billion.

Speaking on the results, CEO Andy Jassy said:

“In the fourth quarter, we expect to incur several billion dollars of additional costs in our Consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs—all while doing whatever it takes to minimize the impact on customers and selling partners this holiday season. It’ll be expensive for us in the short term, but it’s the right prioritization for our customers and partners.”

You can also take a peek at 10 Best Gas Stocks To Buy Now and 11 Best High Dividend Stocks To Buy.

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