Life Style

Amazon sales forecast misses quote, share goes down

NS

Reuters API

Published



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.

The company expects sales to grow between $ 106 billion and $ 112 billion, or 10% to 16% this quarter-Reuters.

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.

The company also reported rare quarterly sales mistakes in competition with retailers such as: Walmart With Inc the goal Companies that have strengthened their online business over the past year.

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.

© Thomson Reuters 2021 All rights reserved.

Amazon sales forecast misses quote, share goes down

Source link Amazon sales forecast misses quote, share goes down

Back to top button