Amazon.com (NASDAQ:AMZN) reported a number of misses in its third quarter earnings report on Tuesday.
Its third quarter earnings per share of $0.14 missed forecasts by $0.10 and its revenue of $10.88 billion increased 44 percent as compared to the previous year, but it also missed by $50 million. The company expects a fourth revenue of $16.45 billion to $18.65 billion vs. analysts’ consensus of $18.1 billion.
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Benchmark and Stifel analysts rated Amazon’s (NASDAQ:AMZN) shares a Buy.
After the dust settled on the disappointing report, sifting through it disclosed a positive in “Other,” a revenue category that includes Amazon Web Services (AWS). This area is hot with a 70 percent growth from the previous year and it is nearing a $1 billion revenue number for the year. This is great news considering it accounts for 75 percent of the “Other” sales.
The fourth quarter earnings report will include sales from the highly-anticipated Kindle Fire tablet.
- Amazon.com Inc. (NASDAQ:AMZN): The shares recently traded at $217.32, up $10.54, or 5.1%. Its market capitalization is $98.83 billion. They have traded in a 52-week range of $156.77 to $246.71. Volume today was 9,886,256 shares versus a 3-month average volume of 6,988,060 shares. The company’s trailing P/E is 114.56, while trailing earnings are $1.90 per share. About the company: Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company’s products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.
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