Amazon posted record profits, but disappoints on revenue and outlook

Amazon posted record profits, but disappoints on revenue and outlook


Amazon posted record profitsAmazon has posted a second quarter profit on Thursday, due to the growth of online shopping and its cloud-computing service.


But its earnings were lower than the Wall Street analysts and Amazon's shares fell after the results were announced.


The company based in Seattle has increased its profits because it has gone far beyond online shopping. For many years, the company has made profits for the quarter-thin quarter, spent the amount of money earned on building warehouses and making other investments. But they have changed as the Amazon Web Services Unit, which provides cloud computing services to companies and government agencies, making a major money for Amazon.

Amazon has earned $ 2.88 billion (about Rs 21,100 crore) in the third quarter, which is more than $ 1 billion. A year ago, the profit of only $ 256 million (ie Rs 1870 crore). According to Jacks Investment Research, on an average per-share basis, analysts earned $ 3.29 to earn an estimated $ 5.75..

Revenues grew by 29 per cent to $ 56.58 billion (about Rs 4.15 lakh crore), but compared to analysts' worth of $ 57.05 billion. Amazon.com shares have increased by 50 percent compared to the year, while the increased trade on Thursday has dropped 7 percent to 1,655.98 dollars.

Amazon is expected to spend more because it will cost at least $ 15 (about Rs.1100) per American workers starting November 1. When the company did not plan to pay the wages, and asked during the visit of reporters and analysts on the main Thursday of Amazon, financial officer Brian Olshusky refused to give a specific number. Almost 400,000 workers in Amazon's warehouse and their full food grocery chain will increase wages.

Looking forward, Olsavsky said that the company "is expecting a strong holiday season." However, the revenues of $ 66.5 billion in the fourth quarter are $ 72.5 billion, which includes the holiday shopping season, with analysts expecting less than $ 73.87 billion.

Expecting the sale of competitors by imitating fast delivery from Amazon.

For the first time, a free two-day shipping will be offered without a minimum purchase during this holiday season. But Amazon has already maintained loyalty with the loyalty of the PM, in which members have entered $ 119 or $ 12.99 per day for the fast delivery to Amazon's movie streaming service and in other respects.

Olsavsky said on Thursday that Amazon has more than 10 million prime members in the world, even after its membership fee increased by 20 percent at the beginning of this year.
Amazon posted record profits, but disappoints on revenue and outlook Amazon posted record profits, but disappoints on revenue and outlook Reviewed by Tech Blogger on October 28, 2018 Rating: 5

No comments:

Powered by Blogger.