Thursday was business as usual for Amazon (AMZN) as they released their Q3 2021 earnings report to investors. The company reported third-quarter earnings of $6.12 per share, missing Wall Street expectations of $9.10/share. The company's revenues of $110.8 billion slightly exceeded Wall Street analyst expectations while missing loftier whisper number targets.
Not only did Amazon’s third-quarter earnings miss the analyst targets, they also represent the largest year-over-year decline since the second quarter of 2017. The online retailer offered a weakened forecast three months ago in the face of continuing complications from the COVID-19 pandemic, including problems with worldwide shipping logistics and staffing issues.
The same issues that affected earnings in the third quarter are also expected to extend into the holiday shopping season, historically a boom period for retailers. In its Q3 2021 earnings report, Amazon offered fourth-quarter revenue guidance of $130 to $140 billion, a bit shy of the analysts’ predicted target of $142.17 billion.
Amazon’s stock price has been strained in the months since the release of its Q2 2021 earnings report, down roughly five percent in that time. Over the last year, the company has been under fire from multiple sides, with critics taking the retailer to task over its anti-union efforts, anti-competitive behavior, and the romanticizing of its CEO’s space vacations.
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