Amazon Stock Crushed After Earnings Report
Buz Investors Amazon Stock Crushed (NASDAQ:AMZN) fell in after-hours trading as the company missed on its earnings report, dropping Amazon stock by 4.5%.
The company registered a higher-than-expected earnings per share at $1.54 against the Thomson Reuters consensus estimate of $1.35, but fell short in revenue. Amazon stock reported $43.74 billion in revenue, below the Reuters projected $44.68 billion. (Source: “Amazon sinks as revenue misses, guidance disappoints,” CNBC, February 2, 2017.)
other Stories Buz Traders Follow
Amazon Stock Crushed
AMZN stock also put out a Q1 revenue estimate of $33.25 billion to $35.75 billion, below the consensus estimate of $35.95 billion.
The tech giant had a rough go of it in the quarter, putting more emphasis on future products where the company is attempting to innovate. Features like drone delivery and fulfillment centers were a focus during 2016, along with expansion into markets like China and India.
The company was also keen on adding to its “Amazon Prime” services, as well as acquiring prestigious content for its streaming offerings, hoping to rise above a quickly crowding industry.
Investors have been high on Amazon stock for some time now, as its e-commerce empire continues to grow alongside its Amazon Web Services. The company was up almost 10% over the past three months.
Amazon stock has a lot of fingers in a lot of pies. From drone delivery to human-free grocery stores, the company is certainly not sitting on its laurels. While the earnings report was relatively weak and will set the company back, expect more innovative products to be rolled out in 2017, though whether they will sell is another matter entirely.
Tech Stocks ( GOOG) (MSFT ) ( AAPL ) (BBRY ) ( gopro ) ( WDC )
Click here for reuse options!
Copyright 2017 Investors Buz