Amazon (AMZN) stock drops 20% on lower Q4 2022 revenue guidance
The company expected $155 billion but have now updated their expectations to anywhere between $140 to $148 billion.
Amazon (AMZN) shared its Q3 2022 earnings today and due to lower Q4 revenue guidance, the company’s stock has dropped 20 percent. Originally, Amazon expected $155 billion, but are now expecting $140 to $148 billion. Not only is this a large reduction from Amazon’s initial expectations, the updated wide range implies a degree of uncertainty as well.
Other details included in the company’s Q3 2022 earnings report include net income decreasing $2.9 billion in the third quarter or $0.28 per diluted share in comparison with $3.2 billion or $0.31 per diluted share back in Q3 2021.
Touching upon recent Amazon events including Prime Day, CEO Andy Jassy notes there is “a lot happening in the macroeconomic environment” with plans to balance the company’s investments “to be more streamlined” without compromising key long-term strategic bets.
Overall, it’s interesting to see Amazon updating its Q4 2022 guidance with lower expectations. Not only this, but seeing Amazon’s updated expectations ranging anywhere from $140 to $148 billion.
For more on Amazon’s Q3 2022 performance, be sure to read through the full earnings report. Also check out some of our previous coverage including where you can listen to the Amazon (AMZN) Q3 2022 earnings call, and Amazon CEO Andy Jassy recently being accused of violating labor laws with anti-union comments.
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replyMorgan Shaver posted a new article, Amazon (AMZN) stock drops 20% on lower Q4 2022 revenue guidance
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I wonder if others are experiencing what I'm experiencing from Amazon, and shopping less there. Their delivery people are terrible. Deliveries to my office are delivered to the wrong door 9 times out of 10 (never mind that they don't come in like UPS or USPS do), sometimes to the wrong floor. I have to check their delivery photo to see if I recognize where in the building the package is at. I don't take deliveries from Amazon at my office anymore. I only buy stuff that fits Amazon lockers, anything else I get from Costco or somewhere else, at least they use professional delivery people like UPS or USPS, not some bozo off the street like Amazon's own delivery.
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I think deliveries are mostly as good as ever. The problem is you can't trust what you shopped for there is actually real anymore or that any of the user reviews are trustworthy.
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