Amazon.com, Inc. (NASDAQ: AMZN)
Amazon stock is quite a bit higher today than it was at the close of the previous session and it’s all thanks to earnings. Below, we’ll talk about what we saw from earnings, how investors reacted, and what we can expect to see moving forward.
What We Saw From Earnings
No one expected to see earnings from Amazon this quarter. As a matter of fact, analysts were expecting to see a loss in the quarter of $0.14. However, the company produced the unexpected. In the quarter, Amazon produced $0.19 per share in earnings; $0.33 above analyst expectations for all intensive purposes. The company also beat analyst expectations with regard to top-line revenue. That figure came in at $23.18 billion; compared to the $22.39 billion analysts were expecting to see. All in all, there’s no surprise that investors are excited after this report.
How Investors Reacted To The News
It’s incredibly obvious that investors are liking what they see from Amazon. In after hours trading, the stock skyrocketed. Currently (12:13), AMZN is trading at $555.58 per share after a gain of 15.22% so far today.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see overwhelmingly positive news from Amazon. However, it is important to keep in mind that market movements are a series of overreactions. With that said, we’re likely to see a slight correction tomorrow; bringing the value down a bit. Nonetheless, the overall trend over the next few weeks and likely even further is going to be bullish. So, tomorrow’s dips may be a perfect buying opportunity.
What Do You Think?
Where do you think AMZN is headed and why? Let us know in the comments below!