July 30, 2021
Amazon.com Inc’s third-quarter sales forecast fell short of Wall Street’s forecast on Thursday as consumers returned to physical stores after shopping online for the past year for a pandemic.
Amazon’s stock, which is only $ 170 billion away from joining a $ 2 trillion market capitalization club, fell 5% in expansion transactions.
The company expects revenue to grow between $ 106 billion and $ 112 billion, or 10% to 16%, this quarter.
Analysts expected $ 11.89 billion, according to Refinitiv’s IBES data.
The rapid deployment of vaccines and the relaxation of restrictions will encourage consumers to go to stores while adopting new shopping methods such as click-and-collect, competing with Amazon and its peers’ fast-delivery services for online orders. became.
Amazon’s net revenue increased from $ 88.91 billion in the previous year to $ 113.08 billion in the second quarter, which ended June 30. Analysts expected an average of $ 11.520 billion, according to Refinitiv’s IBES data.
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Amazon sales forecast misses quote, share goes down
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