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Amazon Shares Plunge 8% on Surprise Q1 Loss and Disappointing Q2 Revenue Guidance

Published 04/28/2022, 12:29 PM
Updated 04/28/2022, 04:30 PM
© Reuters.  Amazon Shares Plunge 8% on Surprise Q1 Loss and Disappointing Q2 Revenue Guidance

© Reuters. Amazon Shares Plunge 8% on Surprise Q1 Loss and Disappointing Q2 Revenue Guidance

Amazon (NASDAQ:AMZN) shares fell around 8% after-hours following the company’s reported Q1 results, with EPS coming in at ($7.56), missing the consensus estimate of $8.36. The loss includes a pre-tax valuation loss of $7.6 billion included in non-operating expenses from the company's common stock investment in Rivian Automotive, Inc.

Revenue grew 7% year-over-year to $116.4 billion, slightly above the consensus estimate of $116.3 billion.

According to Andy Jassy, Amazon CEO, AWS grew 34% annually over the last two years, and 37% year-over-year in Q1. The company’s Consumer business increased 23% annually over the past two years.

The company provided its Q2/22 outlook, expecting revenue in the range of $116-121 billion (up 3% and 7% year-over-year), lower than the consensus estimate of $125.55 billion.

Shares of Amazon were down 13% year-to-date before the after-hours swoon.

By Davit Kirakosyan

Latest comments

Crashed for sure
I run an amazon business and they killed any growth i could have had by limiting my fba inventory this year… They just opened it back up last month.. Couldnt keep anything in stock, definitely couldnt add any new products.. It was rediculous..
what is fba?
So that stupidity is removed already?
Google search it bro...
call It what it is. Joe making Americans save their money so they can afford food and gas. The luxury of Amazon spending that extra income came to a complete halt.
low paying jobs can't pay for overpriced things anymore, simple is that. Stimulus is over.
 "stock market has lost value since he took office" --- urrr S&P 500 at Jan 2021 was about 3800, now even after the recent drop it's still >4200......this is a financial website, did you think people can't fact check your rant?
 "Biden has spent trillions"  - has he?  are you counting the first 2 covid relief bills signed by Trump or are they too inconvenient to fit your alt reality?
All of these consensus estimates are so pointless. then, all of the selling that happens after a miss is stupid. do you believe in a company and their future? are they a strong, established company with solid returns? if yes,.... hold the stock! don't rely on all of these estimates and gloom and doom of analysts.
Hold for what? Future in 10 years later. Do you really think the street trade stock for future? It's Just the tool They grab money from retailers
Lonnie bought the dip....🤕
lmfaoo
Lovely 😍
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