Published , by TJ Denzer
Published , by TJ Denzer
Amazon is among the latest major tech companies to drop its recent quarter of earnings results. It just put out its Q3 2022 results and it looks like the previous quarter was mostly a win for the company. Amazon came out ahead on revenue versus expectations and, likewise, it managed to post another win on earnings-per-share (EPS), marking a lucrative Q3 for the company.
Amazon dropped its Q3 2022 earnings results via its investor relations website on October 27, 2022. In said results, Amazon posted a total revenue for Q3 2022 of $127.1 billion. This was a narrow beat against an expected $126.42 billion, as estimated by Earnings Whisper. As for its EPS, Amazon put up a diluted EPS of $0.28 per share, which was also a win versus the Earnings Whisper number of $0.19 and a consensus estimate of $0.22. Altogether, it made for a pretty successful set of stats for Amazon in the previous quarter.
Even despite the wins, Amazon stock didn’t see any benefit from it. This might be because the company’s guidance for the last quarter of its fiscal 2023 was very low as the company expects to face difficulties due to the global economy and the strength of the US dollar vs foreign currencies, as detailed below.
Even so, despite expected difficulties ahead, it looks like Amazon gets to put another fairly successful quarter in the books, even as it continues to wade through issues with worker organization and unions. Stay tuned for more financial reporting as more companies share their quarterly results in the weeks ahead.