5 Stocks Making Headlines Following Earnings Reports

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

Number of Hedge Fund Holders: 78

Shares of Amazon.com, Inc. (NASDAQ:AMZN) climbed over 13 percent on Friday, February 4, 2022, despite its mixed financial results for the fourth quarter. The company reported adjusted earnings of $5.80 per share, surpassing expectations of $3.57 per share.

On the downside, Amazon.com, Inc. (NASDAQ:AMZN) posted revenue of $137.4 billion, up 9 percent versus last year but below analysts’ average estimate of $137.6 billion. Revenue from its flagship segment, Amazon Web Services, jumped 40 percent to $17.8 billion.

Moving forward, Amazon.com, Inc. (NASDAQ:AMZN) plans to raise the annual pricing of its Prime subscription from $119 to $139. The updated prices will be applicable from February 18 for new members and after March 25 for existing members.

Amazon.com, Inc. (NASDAQ:AMZN) also issued its sales guidance for the current quarter. It expects revenue of $112 – $117 billion for the first quarter, below the consensus forecast of $120 billion.

Commenting on the quarter, CEO Andy Jassy said in a statement:

“As expected over the holidays, we saw higher costs driven by labor supply shortages and inflationary pressures, and these issues persisted into the first quarter due to Omicron. Despite these short-term challenges, we continue to feel optimistic and excited about the business as we emerge from the pandemic.”

You can also take a peek at 15 Worst Stock Picks of Cathie Wood and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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