Amazon beats estimates, and Wall Street breathes a sigh
Amazon beats estimates, and Wall Street breathes a sigh
Wall St breathed a sigh of relief on Thursday after Amazon.com`s https://reut.rs/2JUqwpy)
In its report, Amazon forecast operating income of between $1.4 billion and $2.4 billion for the third quarter, beating analyst estimates of $843 million. The Seattle-based company`s total net sales rose 39 percent to $52.89 billion, missing the average analyst estimate of $53.40 billion.
(Graphic: Big Five Revenue - https://reut.rs/2LDAy3f)
"Since Amazon hit $1,000 a share, we`ve taken some money off the table, but we`re not selling today," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "Of all the tech companies, Amazon to me is the most vital. It`s the one with the brightest future."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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