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- Amazon falls short in Q1
- 1 Month -11.29%
- 3 Month 3.55% -13.27%
- Year-to-date -13.27%
- 1 Year -16.69%
- Citigroup: $4400
- UBS: $4500
- Deutsche Bank: $4100
- Credit Suisse: $4100
- Goldman Sachs: $4200
- JP Morgan: $4500
News & AnalysisAmazon.com Inc. announced its first quarter results after the market close in the US on Thursday, falling short of Wall Street analyst expectations.
The US online retailer reported revenue of $116.444 billion in the quarter vs. $116.45 billion estimate.
Analysts were expecting earnings per share of $8.35 a share in Q1, however, the company reported a loss per share of $7.56 a share.
”The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,” company CEO, Andy Jassy said in a press release after the latest numbers were announced.
”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. Today, as we’re no longer chasing physical or staffing capacity, our teams are squarely focused on improving productivity and cost efficiencies throughout our fulfillment network. We know how to do this and have done it before. This may take some time, particularly as we work through ongoing inflationary and supply chain pressures, but we see encouraging progress on a number of customer experience dimensions, including delivery speed performance as we’re now approaching levels not seen since the months immediately preceding the pandemic in early 2020,” Jassy concluded.
*Amazon Web Services
Amazon.com Inc. chart
Amazon ended the trading day on Thursday up by 4.65% at $2884.91, but the stock fell in the after-market trading by over 11% after disappointing Q1 results.
Here is how the stock has performed in the past year:
Amazon’s price targets
Amazon.com Inc. is the 5th largest company in the world with a market cap of $1.470 trillion.
You can trade Amazon.com Inc. (AMZN) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Amazon.com Inc., TradingView, CompaniesMarketCap
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