Amazon lowers revenue estimates: stock collapses on Wall Street. Apple, turnover above expectations

Amazon closed the third quarter with revenues down 15% to 127.1 billion dollars, below analysts’ expectations. And for the last three months of the year it expects revenues of 140.0-148.0 billion, under the forecasts of the market which was betting on 155.2 billion. Net income fell to 2.9 billion, or 28 cents per share, better than the 22 cents expected by analysts. Disappointing sales estimates for the current quarter sink Amazon’s stocks to Wall Street, where after-hours trading is losing up to 21%.

“We are encouraged by the progress we are making in reducing costs and have a number of initiatives that we believe will lead to a stronger cost structure,” says Amazon CEO Andy Jassy, ​​noting that at a macroeconomic level, “a lot is happening. and we will balance our investments without compromising our long-term strategic bets. What will not change is our obsessive attention to the consumer experience ».

The CFO said the company is gearing up for a period of lower growth. “Family budgets are under pressure,” he added. Due to this difficult situation, Amazon is “very cautious” in its hiring policy. Rising fuel costs and the impact of the war in Ukraine, he concluded, are hitting European economies more than the United States.

It fared better for Apple, which closed its fiscal fourth quarter with revenues up 8.1% to $ 90.15 billion, above analysts’ expectations. Revenues from the iPhone rose 9.7% to 42.63 billion, less than the forecast of the market which was betting on 42.67 billion. Mac revenues grew 25% to 11.51 billion. Earnings per share stood at $ 1.29, above expectations. Apple stocks are down in after hours trading on Wall Street, where they have come to lose 5%.

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About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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