Amazon's operating profit has halved for the second consecutive year, the growth of the cloud has slowed down, and the stock price plummeted by 20% due to the forecast that the year-end sales season will struggle
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On October 27, 2022, Amazon announced financial results for the third quarter ending September 30. The company's stock fell 20% as earnings halved and slowing growth became apparent.
Amazon.com Announces Third Quarter Results | Business Wire
https://www.businesswire.com/news/home/20221026006088/en/Amazon.com-Announces-Third-Quarter-Results
Amazon (AMZN) earnings Q3 2022
https://www.cnbc.com/2022/10/27/amazon-amzn-earnings-q3-2022.html
Amazon shares drop nearly 20% after company predicts weaker holiday sales | Amazon |
https://www.theguardian.com/technology/2022/oct/27/amazon-shares-drop-after-company-predicts-weaker-holiday-sales
According to Amazon's third quarter financial results for 2022, its operating profit for this term was almost halved to $2.5 billion (about 360 billion yen) compared to $4.9 billion (about 710 billion yen) in the same period last year. It was also reported that operating profit declined by 50% in the third quarter of 2021, and this is the second consecutive year that the company's operating profit in the third quarter has halved from the previous year.
On the other hand, sales increased 15% from $110.8 billion (about 16.26 trillion yen) in the third quarter of 2021 to $127.1 billion (about 18.65 trillion yen) this fiscal year, but analysts forecast disappointment among investors. The company's share price briefly fell 20% in after-hours trading as its outlook for the fourth quarter of 2022, which includes the holiday season, was also disappointing.
While our mainstay businesses struggled, performance in the cloud business, which is the cornerstone of our growth, was lackluster. According to the announcement, the AWS division's revenue was 20.5 billion dollars (about 3 trillion yen), up 27% from the same period last year, but slowing from the 33% increase in the third quarter
Amazon CEO Andy Jassy pointed out that ``a lot is happening in the macroeconomic environment,'' and said, ``The problems of the Ukrainian war and the energy crisis have worsened.'' I showed the view that it weighed down.
Amazon isn't the only company struggling due to the global economic downturn. Meta also reported that its profits were halved in the third quarter of 2022, and its stock price temporarily fell by 20%, and Google's parent company Alphabet and Microsoft have also fallen below market expectations and their stock prices have fallen. increase.
On the other hand, Apple's sales of iPhone and iPad fell short of expectations, but its sales and profits exceeded expectations, and its stock price rose 1%.
Apple announces financial results for the fourth quarter of fiscal 2022, sales of iPhone and iPad fell short of expectations, but sales and profits exceeded expectations - GIGAZINE
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