Amazon Q3 2018 had $56.6 billion in sales and $2.9 billion profit

Amazon Q3 2018 had $56.6 billion in sales and $2.9 billion profit

The third quarter results were the second time running that billionaire Jeff Bezos' firm had fallen short of sales targets and, allied to a similar disappointment from Google-owner Alphabet, they sent a shockwave reverberating through stock markets. The company says it had operating income of $3.7 billion during its latest third quarter; in comparison, its third quarter in 2017 had an operating income of $347 million. We know that Amazon has reported $33.7 million net product sales and $22.8 million in net service sales this past quarter for example, but there's no meaningful breakdown of how that's divided in the company. Since the end of September, analysts have cut their 2019 revenue estimates by 1%. The company also issued weaker than expected revenue guidance.

Despite the lower-than-expected revenue Amazon's finance chief Brian Olsavsky said on a call with reporters Thursday: "We feel it's a really strong quarter".

Shares are up in early trade, at around 3.6%. Additionally, analysts have slashed their earnings outlook for the fourth quarter by 9% to $5.35 per share.

Devitt noted, "Our 3Q:18 topline estimate of $57.1B is in line with consensus expectations and near the high-end of the guided range ($54.0B- $57.5B)".

Q4 earnings per share (forecast): Between $66.5 billion and $72.5 billion. This is pretty impressive considering Amazon's primary North American retail segment pulled in over $34 billion in sales yet AWS booked just shy of $6.7 billion!

Sales from Amazon's main online stores rose 11 percent from a year earlier, while the Amazon Web Services cloud-computing unit reported a 46 percent increase in sales.

"Virtually impossible" for any team to beat Liverpool - Warnock
It is an exceptional number and hopefully he can continue, " Klopp was quoted as saying by the club's official website. Let us know what you think in the comment section below.

Duchess Kate dazzles in Princess Diana's tiara at Buckingham Palace banquet
According to Majesty magazine , Kate's family order is different to previous examples, because it is not made of ivory. The tiara is over one hundred years old and now belongs to the Queen , though it once belonged to Queen Mary .

Hmmm: Google Created a Proprietary Fast Wireless Charging Solution for Pixel 3
Qi wireless charging is an open standard, which makes it weird for Google to purposely cap how fast its phones wirelessly charges. For some reason, the company is limiting third-party Qi chargers from reaching top speeds on the Pixel 3 lineup.

That's a 21 percent increase compared to the same time past year.

Revenue gained 29 per cent to $56.6 billion in the third quarter.

Those results were inflated by the company's acquisition of Whole Foods. Its overall subscription revenue, which comes not just from Prime, but also from Audible.com, Amazon Music, and other services, grew 52% from the third quarter past year to $3.7 billion. "And we're not slowing down - Amazon Business is adding customers rapidly, including large educational institutions, local governments, and more than half of the Fortune 100".

The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. Its "other" revenue, which largely comprises advertising sales, jumped 122% to $2.5 billion.

The Dow Jones Industrial Average has shed more than 1,840 points - almost 7 percent - since October 3, even with Thursday's 401-point rebound.

Related Articles

  • Mookie Betts Fed the Homeless After Game 2 of the World Series

    Mookie Betts Fed the Homeless After Game 2 of the World Series

    That's as simple as you can put it. ... "Next thing I know they are laying out trays of food". They had just one run on three hits over five innings against the Boston bullpen in Game 1.
    Mourinho 'not confident' that De Gea will sign new Manchester United deal

    Mourinho 'not confident' that De Gea will sign new Manchester United deal

    Ibrahimovic joined United on a free transfer from Paris Saint-Germain in 2016 and scored 28 goals in all competitions that season. There are no prizes for guessing what has put the Chilean's nose out of joint.
    Chinese and Russian spies hack Donald Trump’s phone

    Chinese and Russian spies hack Donald Trump’s phone

    President Donald Trump may have disclosed sensitive information to Fox News host Sean Hannity over an unsecured cellular phone. But Trump's aides have reportedly warned that Russian spies are "routinely eavesdropping" on his calls, the report said.
  • US, Mexico negotiate options for handling migrant caravan

    US, Mexico negotiate options for handling migrant caravan

    A second migrant caravan has formed at the Honduran border, although it is now much smaller, The Wall Street Journal reports. However, activists accused Mexico of violating the migrants' rights by detaining anyone who tried to apply for asylum.
    Gains Wiped Out: Dow Falls 608 Points as October Losses Mount

    Gains Wiped Out: Dow Falls 608 Points as October Losses Mount

    ENERGY: Benchmark U.S. crude fell 66 cents to $66.67 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, key Wall Street indexes sank by more than 2 percent, further extending losses seen just the day before.
    ASX200 sheds billions at the open amid global growth jitters

    ASX200 sheds billions at the open amid global growth jitters

    European politics is also in focus, with Italian Prime Minister Giuseppe Conte doubling down on his government's budget and U.K. Soaring corporate profits, fueled by sweeping corporate tax cuts, powered the market's recovery this spring and summer.
  • Google sacks 48 people over sexual misconduct claims

    Google sacks 48 people over sexual misconduct claims

    She relented to a neck rub because, "I didn't have enough spine or backbone to shut that down as a 24-year-old", she said. In 2011, he had a consensual relationship with a woman on the Android team who did not report to him, they said.
    From Aadhaar to CBI, Mapping Modi Govt’s ‘Don’t Care’ Attitude

    From Aadhaar to CBI, Mapping Modi Govt’s ‘Don’t Care’ Attitude

    On Wednesday, both CBI director Verma and special director Rakesh Asthana were sent on leave with immediate effect. Refuting these reports, a CBI spokesperson said that these were being manufactured by vested interests.
    We're Reviewing 'Red Dead Redemption 2' Just Like You!

    We're Reviewing 'Red Dead Redemption 2' Just Like You!

    It should also be noted that the app will allow for players to experience in real-time Arthur Morgan's core info and statistics. Rockstar Games' upcoming western, Red Dead Redemption 2 , is just around the corner for Xbox One and PlayStation 4.
  • NBC Makes it Official: 'Megyn Kelly Today' Is Over

    NBC Makes it Official: 'Megyn Kelly Today' Is Over

    Megyn Kelly has a new defender in her corner as she heads towards a potential exit at NBC: Catholic League president Bill Donahue. The comments sparked a quick backlash on social media, calls for Kelly's resignation and displeasure from her own colleagues.
    Ron DeSantis's internal polling now gives him slim lead over Andrew Gillum

    Ron DeSantis's internal polling now gives him slim lead over Andrew Gillum

    Both candidates have secured their party bases with 96 percent of Democrats for Gillum and 89 percent of Republicans for DeSantis. I is the negro Andrew Gillum and I'll be askin' you to make me governor of this here state of Florida", the voice says.
    Samsung, Apple fined over treatment of older-generation smartphone customers

    Samsung, Apple fined over treatment of older-generation smartphone customers

    The fine is tied to the "Samsung slow down" - the drop in performance smartphones sometimes show after receiving new updates. The authority also argued that Apple should have issued instructions about replacing the battery in the iPhone.