Posted on 10/28/2022 10:47:00 AM PDT by EBH
Earlier this month, Amazon’s billionaire founder Jeff Bezos warned that it’s time to “batten down the hatches” and prepare for a potential recession.
This week, we got a preview of what he was talking about.
Amazon turned in dismal earnings after the market closed on Thursday, leading the stock to crater as much as 11.5% on Friday.
The e-commerce giant fell short of Wall Street’s expectations, posting $127.1 billion in revenue compared to analyst estimates for $127.6 billion, and $2.5 billion in operating income compared to an expected $3.1 billion, according to data from Bank of America.
But the worst part of the earnings report was undoubtedly Amazon’s outlook.
Management said they expect fourth-quarter revenue of between $140 billion and $148 billion, representing year-over-year growth of just 2% to 8%. For comparison, in the fourth quarter of last year, the company managed 10% revenue growth.
(Excerpt) Read more at fortune.com ...
“May” be here? Only a lying, dog-faced, pony soldier would say “may” be here. Its been here, honky.
Bezos has reportedly lost $23 billion. I have a hunch these elites had/have no idea until they get their reports on networth.
I stopped using Amazon once I caught on to their “targeted pricing” which figured out how much I’d be willing to pay for something and then charged that amount. Amazon destroyed itself by being too clever by half in seeking merchandizers for its platform. Also, spending a billion dollars on that Woke Lord of the Rings disaster and then calling subscribers racist for not liking it didn’t help.
Is it Black Friday, already? ;)
Trump’s fault?
*SNORT*
He needs to upgrade his pep talk to: “Secure all watertight hatches. Rig for depth charges.”
This is premature. The Biden admin has a plan to prevent a recession, they are going to redefine "recession" again, and they will keep doing it as long as it takes until they get a definition that can't be triggered.
Jeff bezos says batten down the hatches?! You first, Jeff.
Lucky that Apple’s earnings are good that the market is up on friday.
#4 If you click on a price button to amazon at say a review site, the price goes up. You also need to delete your cookie files in your web browser prior to shopping as you are being tracked and the price will go up as amazon knows you like to shop at their site.
I got pissed at Amazon when it hijacked Thursday night football (although I was saved from watching the bears, broncos and other crappy teams so far). Stopped using them, although I had already started staying away from them because a lot of the sellers weee peddling crap.
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