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Amazon Slammed on Light Q4 Guidance
Posted Oct 22, 2008 05:37pm EDT by Joseph Weisenthal in Investing, Internet
From Silicon Alley Insider, Oct. 22, 2008:
The market already knew that Amazon was not immune to slower consumer spending -- it's stock is down over 60% from its highs -- but the company may be in worse shape than previously thought. It has just reported results for Q3 that were roughly in line. Earnings beat by a couple pennies, and revenue of $4.2 billion was roughly in line, but the outlook is the killer.
Revenue guidance for the all-important Q4 is $6-$7 billion. Current revenue estimates are for $7.05 billion, so they'd have to nail the top side to be close. The op income outlook of $145-$305 million, is way below the $400 million or so the street was looking for (per CNBC). The stock is off at least 14% in immediate after hours trading.
Go here for LIVE coverage of the conference call.
See also:
Analyst Reduces Amazon Ahead Of Earnings: "Nobody Is Immune"
12 Comments
Paul L - Wednesday October 22, 2008 05:50PM EDT
Amazon's revenue dipped, other Internet companies will follow! Hint... Yahoo! and MSN.
georgeg - Wednesday October 22, 2008 07:36PM EDT
Someone figured it out, it is called the LIBRARY... books are free. We are moving from what we want to WANT to what we NEED. How else can it be as we are told tomorrow our houses will be worth nothing and our 401K will still have the "trade fees" even if there is nothing left in the account. Imange getting a bill for a 401K... Betty how much did our 401K cost us to keep open this month. THIS IS NOT FUNNY...I wake up at night crying Mommy and I am in my 50's... Where are our leaders... My Senators BOXER and NOT SO FINE STIEN are missing in action. WERE are their big mouths when you need them. Must not be time to support some spending none of us need.
Paul L - Wednesday October 22, 2008 08:09PM EDT
Well, maybe stop spending billions of our children money on countries that want to kill us or countries that we don't even know existed, might just help!
leslie - Wednesday October 22, 2008 08:28PM EDT
OK Guys -I dont' even know why I am writing because it is to no avail=the average American is so F===Ked. The American people are no longer in charge. We have become socialized, Marxized, whatever, democracy does not live any more. Capitalisim has grown to a cancer that has taken over, Capitalism = Greed. We are on the abyss of a total meltdown. This country had prostituted itself to the global econmy and dumbS**ts that we are, the American people, who pre like a bunch of sheeps,.lemmings Take a look Revelations while you like it or not, the time is coming. It is getting serious.
Yahoo! Finance User - Wednesday October 22, 2008 09:31PM EDT
The current financial crisis is no different from the Enron, both are stemming from some "creative financial products", except the guy at Enron knew what they are doing conscientiously, and the current financial genius do not...
mikey - Wednesday October 22, 2008 10:58PM EDT
I thought AMZN was over priced when it was $20 a share.
Yahoo! Finance User - Thursday October 23, 2008 09:50AM EDT
Nobody is immune to this market.......
Reedersong - Thursday October 23, 2008 10:04AM EDT
True, I have a variety of investments and they all tanked yesterday.
georgeg - Thursday October 23, 2008 11:24AM EDT
The Bail out is not working ... they gave the banks billions and they are still firing their employees. HOW DO YOU MAKE LOANS IF YOU HAVE NO LOAN OFFICIERS? Ready these articles and posts for the last few months ... I agree it started with housing and will end with housing. Stocks are just victums of housing.
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* - Wednesday October 22, 2008 05:46PM EDT
Sounders is a serious milf