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undergroundnewsroom.com November 21, 2017


Amazon stock skyrockets after strong earnings in Q3

28 October 2017, 01:06 | Gordon Grant

What To Expect From Amazon.com, Inc. (AMZN) Earnings Today

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Amazon who are now tipping millions moving into new markets including Australia, has seen their shares rise 7% after reporting a 35% lift in United States revenues and a 29% lift in global sales.

Last quarter, Amazon itself forecast Q3 revenues of $39.25 to $41.75 billion, although its internal estimates are usually pretty conservative.

Amazon's net income for the quarter was $256 million, up from $252 million in the year-ago quarter. That figure includes $1.3 billion from Whole Foods Market, acquired August 28. That easily beat the 2 cents per share analysts had expected, according to FactSet. Without these sales, revenue increased 29% year over year to $42.4 billion. Looking ahead, we excited about the possibilities for the Whole Foods business and believe that over the medium to longer term Amazon will make some more radical changes that will deliver stronger results.

Amazon also set its guidance for Q4 net sales, projecting between $56 billion and $60.5 billion, which would bring year-over-year growth into the 28% to 38% range. The e-commerce and cloud computing giant crushed Wall Street's expectations and its own guidance across the board.

Revenue from online stores increased by 22% to over $26.4 billion, which is the fastest growth seen by Amazon in that segment for over one year. Along with AWS, Business Prime Shipping gives Amazon another service offering for the growing B2B e-Commerce market.

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"And it's working, customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since the same time past year".

"In the last month alone, we've launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more", said Bezos.

This is good news given that Amazon just rolled out an array of new Alexa-enabled devices just before the holiday season. For the quarter, operating income was down by 40% to $347 million. The move is interesting, as I am sure there are not many people with Amazon Echo products who do not also have Prime.

Amazon's early Whole Foods initiatives included price reductions, selling whole Foods products on Amazon.com and installing Amazon Lockers at Whole Foods locations to drive foot traffic.

As discovered by the website Voicebot.ai while using an Amazon Echo Show, the Jeopardy skill - based on the TV quiz show of the same name - has started offering a subscription model where users pay $1.99 per month to gain six extra clues each month.



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