Market News

AMZN Slides after Posting Mixed Results

Shares of Amazon (NASDAQ:AMZN) lost over 4% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2022. Earnings per share came in at $0.03, which missed analysts’ consensus estimate of $0.17 per share. Sales increased by 8.6% year-over-year, with revenue hitting $149.2 billion. This beat analysts’ expectations of $145.77 billion.

North American sales reached $94.3 billion, up 13% against this time last year. International sales, however, reached $34.5 billion, representing a loss of 8% due mainly to the strong dollar. Amazon Web Services sales reached $21.4 billion, a jump of 20% over last year.

Looking forward, management now expects revenue for Q1 2023 to be in the range of $121 billion to $126 billion. For reference, analysts were expecting $125.3 billion in revenue.

Overall, Wall Street has a consensus price target of $131.39 on Amazon stock, implying 16.93% upside potential, as indicated by the graphic above.


Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More