Amazon shares fall after earnings and revenue miss
Technology · First reported 29 Oct, 20:15 · Updated 00:46
Amazon reported third-quarter revenue below analyst expectations and higher-than-expected capital spending, while AWS sales grew 39%. Its shares fell more than 7% in late trading, and the company’s forecast for fourth-quarter revenue was below the analyst estimate at its midpoint.
- Amazon reported third-quarter revenue of $201.94 billion, up 12% year over year but below the $202.31 billion analyst consensus. Earnings per share before certain costs were $1.89, compared with a $1.96 target.
- Third-quarter capital spending reached $77.3 billion, above the $58.7 billion estimate, and Amazon reported negative free cash flow of $42.4 billion. The company reiterated its forecast of $220 billion in spending this year.
- AWS sales rose 39% to $45.98 billion. Amazon forecast fourth-quarter revenue of $240 billion to $247 billion, whose midpoint was below the $244.5 billion analyst forecast.
Summary written by Lux AI from 2 articles
Key facts
- Third-quarter revenue
- $201.94 billion, up 12% year over year; analyst consensus was $202.31 billion.
- Earnings per share
- $1.89 before certain costs, versus a $1.96 analyst target.
- Third-quarter capital spending
- $77.3 billion, compared with a $58.7 billion estimate.
- Free cash flow
- Negative $42.4 billion for the quarter.
- AWS sales
- $45.98 billion, up 39% year over year.
- Fourth-quarter revenue forecast
- $240 billion to $247 billion; the midpoint was below the $244.5 billion analyst forecast.
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