As a seasoned investor who’s been through the dot-com bubble and the Great Recession, I can’t help but feel a sense of deja vu when I see Amazon’s Q2 earnings miss on revenue expectations. However, it’s important to remember that the stock market is like a roller coaster – full of ups and downs, but always moving forward.
At the end of the trading day, Amazon (AMZN) was one of the firms disclosing their recent financial earnings. The company surpassed earnings per share estimates, however, it fell short of revenue projections which affected its share price negatively during after-hours trading.
In simple terms, Amazon’s second quarter earnings report for 2024 revealed that the company generated a revenue of approximately $148 billion, which was slightly lower than the projected $149 billion. On the other hand, Amazon surpassed expectations in Earnings Per Share (EPS), reporting $1.26 compared to the anticipated $1.03.
After the report was released, shares of Amazon experienced an initial drop in after-hours trading. The stock’s value dipped as low as $173.85, down from its closing price of $183.90 for the day. Andy Jassy, Amazon’s President and CEO, commented, “We’re making significant progress across several fronts, but the growth in our AWS segment stands out particularly.”
Today, it’s not just Amazon revealing its financial results; companies like Corsair and Intel have also disclosed their latest findings. Stay tuned to Shacknews for updates on tech-focused finance matters.
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2024-08-01 23:58