Amazon (NASDAQ:AMZN) company is reported better-than-expected third-quarter results after the bell on Thursday. It is including soaring profits and 37% revenue growth. The stock is extended trading and falling as much as 2% after Amazon is provided a wide guidance range for the fourth quarter. These earnings are $12.37 vs $7.41 per share expected, according to analysts surveyed. It is revenue of$96.15 billion vs $92.7 billion expected, according to analysts surveyed. Amazon has reported sales in the fourth quarter that will be expecting between $112 billion and $121 billion. It is coming out to a growth of 28% to 38% from a year earlier. Analysts were expecting revenue of $112.3 billion.
Sales Growth Of 37% A
- The Amazon ( NASDAQ: AMZN) company has forecasting operating income of $1 billion to $4.5 billion and it is assuming about $4.0 billion of costs tied to COVID-19.
- Amazon would be spending more than $2 billion on coronavirus-related measures.
- Amazon CFO Brian Olsavsky said on a call with analysts that the largest portion of these costs is stemming from continued productivity headwinds in its warehouses. It is including enforcing social distancing rules, extended breaks for workers.
- It has other steps to make sure their people that are safe and distanced. The costs are including investments in enhanced cleaning and building out testing capabilities.
- Amazon is one of the biggest beneficiaries of the pandemic and it has consumers flock to the site for essential goods, groceries, and household items.
- The cost of shipping goods is having customers rose during the third quarter, with expenses up 57% from a year earlier to $15.1 billion.
- Amazon is expected to greater demand heading into the holiday season, with shoppers. It has gift buying online instead of making trips to the store.
- Amazon is one of the few companies that has continued to grow its headcount amid a broader economic downturn due to the coronavirus.
- This company is now counting more than 1.12 million full-time employees across the globe. It has an increase of 50% year over year. This is not including Amazon’s network of contractors and temporary workers.
- Amazon’s cloud-computing unit and Amazon Web Services are having generated sales of $11.6 billion for the quarter, up 29%, and in line with analysts’ estimates. It has operating income in the segment of $3.54 billion topped estimates of $3.45 billion.
You can get the details of cash flow at https://www.webull.com/cash-flow/nasdaq-amzn. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.