Amazon Shares Tumble As Bottomline Dwindles In Q3 2022

Amazon.com, Inc. (Nasdaq: AMZN) reported on Thursday post-closing its financial results for Q3 2022. The company recorded US$127.10 billion in net sales, an increase from Q2 2022’s US$121.23 billion and Q3 2021’s US$110.81 billion. The revenue figure lands between the previously announced guidance of US$125.0 – US$130.0 billion.

This image has an empty alt attribute; its file name is amazon-logo-1024x535.jpg

Breaking down the topline quarterly sales, North America division contributed US$65.56 billion, international sales contributed US$29.15 billion, and Amazon Web Services added US$16.11 billion. International sales contributed a net operating loss of US$911 million compared to net operating income from North America at US$880 million and AWS at US$4.88 billion.

All these contributed to a net operating income of US$2.53 billion, falling within the previously announced guidance, and a decrease from last quarter’s US$3.32 billion and last year’s US$4.85 billion.

Silver47 Exploration Inc. — sponsored Sponsored · Silver47 Exploration Inc.

However, coming from two quarters of net losses, the tech firm notched a US$2.87 billion net income for the quarter–an improvement from last quarter’s net loss of US$2.03 billion but down from last year’s net income of US$4.85 billion. The quarterly bottomline figure translates to US$0.28 earnings per share.

After the firm released its financials post-closing, shares fell as low as 20% in pre-market trading, largely related to fourth quarter guidance.

The tech firm said that year-over-year changes in foreign exchange rates led to a US$5.0 billion unfavorable impact on the quarter’s sales. Excluding this, Q3 2022 net sales is a 19% increase over the year-ago period.

The company also ended the quarter with US$34.95 billion in cash and cash equivalents, putting the balance of current assets at US$131.46 billion. Meanwhile, current liabilities came in at US$140.36 billion.

For Q4 2022, the firm guides its net sales to be at US$140.0 – US$148.0 billion, a 2%-8% increase over its Q4 2021 numbers but still expecting an “unfavorable impact of approximately 460 basis points from foreign exchange rates.” It also expects the succeeding quarter to record an operating income of 0 to US$4.0 billion, down from Q4 2021’s US$3.5 billion.

Amazon.com last traded at US$101.04 on the Nasdaq.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Gold & Copper Stocks Everyone Keeps Asking About | Oct. 12-16 – Weekly Mining Mailbag

Similar Gold Mines Are Valued 10X Higher. Why Not This One? | JW Dumont – Granada Gold Mine

The US Interest Bill Gold Can’t Ignore | Peter Grandich

Recommended

Sage Potash Expands Sage Plain Resource to 771.5 Million Tonnes, Adds First Measured and Indicated Tonnage

Cambria’s Silver Coin Infill Program Delivers 98.56 g/t Gold Over 8.2 Metres

Related News

Elon Musk Has Thoughts About Amazon’s New Show, Neil Gaiman Is Having None Of It

Tesla CEO Elon Musk, in between his attempts to back out of his bid to...

Wednesday, September 7, 2022, 04:37:00 PM

Amazon Also Backs Small Modular Reactors in Latest Clean Energy Push

Amazon (Nasdaq: AMZN) has announced plans to invest in nuclear energy projects, focusing on Small...

Thursday, October 17, 2024, 11:05:00 AM

Worker Protections Under Siege As Amazon, SpaceX Take Labor Board To Court

As the National Labor Relations Board (NLRB) faces escalating scrutiny from corporate giants SpaceX and...

Tuesday, November 19, 2024, 12:09:00 PM

Blue Origin’s New Glenn Rocket Explodes on Launch Pad During Static Fire Test

Blue Origin‘s New Glenn rocket exploded on the pad at Launch Complex 36 at Cape...

Thursday, May 28, 2026, 11:18:36 PM

Amazon Plans to Add Jobs in the UK Despite Broader Tech Slump

Amazon (NASDAQ: AMZN) has decided to boost its workforce in the UK, despite a broader...

Sunday, July 17, 2022, 05:21:00 PM