Amazon Shares Plunge 6% on Guidance Miss
<p><a href='https://financialmodelingprep.com/financial-summary/AMZN'>Amazon (NASDAQ:AMZN)</a> shares dropped more than 6% on Friday following the company’s reported Q3 results. While EPS of $0.28 came in better than the Street estimate of $0.22, and revenue of $127.1 billion was roughly in-line with Street’s $127.76 billion, Q4 guidance was disappointing. The company expects Q4/22 revenue in the range of $140-148 billion, compared to the Street estimate of $155.1 billion. </p>
<p>Deutsche Bank analysts lowered their price target on the company’s shares to $130 from $150 following the results announcement. According to the analysts, for the retail business, Q3 results were not necessarily all that bad, with total (forex neutral) revenue coming in near the high end of guidance and North America operating margins that were generally in line with Deutsche’s expectations. That said, steepening losses in the company's International business and AWS margins that came in light of Deutsche’s below-consensus estimates drove an aggregate operating income miss. According to the analysts, this margin pressure at AWS, and the associated investment plans are likely to come under even greater scrutiny given year-over-year Q3 forex neutral revenue growth of only 28%, below consensus.</p>

NASDAQ:AMZN