Amazon (AMZN) exceeded the Zacks Consensus Estimate of $0.81 per share with quarterly earnings of $1.01. This compared to $0.21 per share last year. Adjusted for non-recurring items. This quarter's profit surprise is 24.69%. A quarter ago, this online retailer was predicted to record $0.58 per share, but it posted $0.85 to surprise 46.55%. The firm outperformed consensus EPS projections four times in the past four quarters.
In the quarter ending December 2023, Zacks Internet-Commerce company Amazon reported $169.96 billion in sales, 2.23% more than the Zacks Consensus Estimate. Revenues were $149.2 billion last year. The firm has surpassed consensus sales expectations four times in four quarters.
Management's earnings call commentary will determine whether the stock's quick price movement based on recently published figures and future earnings estimates will last. Since January, Amazon shares have gained 2.2% vs the S&P 500's 1.6%.
Amazon has outperformed the market this year, but investors wonder what's next for the stock? The company's profits projections can assist investors answer this important issue, but there are no easy solutions. This includes current consensus earnings predictions for the coming quarter(s) and their recent changes.
Near-term market fluctuations and earnings estimate revisions are strongly correlated, according to empirical studies. Investors may follow earnings estimate revisions themselves or use the Zacks Rank, which has a proven track record of doing so.
Amazon estimate revisions are positive before this earnings announcement. After the company's earnings announcement, estimate revisions may alter, but the stock has a Zacks Rank #2 (Buy). In the foreseeable term, the shares should outperform the market. See all today's Zacks #1 Rank (Strong Buy) stocks here.
It will be fascinating to observe how quarter and fiscal year projections adjust. The average EPS forecast for the approaching quarter is $0.69 on $142.09 billion in sales and $3.67 on $636.9 billion for the current fiscal year.
Investors should be aware that industry outlook might affect stock performance. Internet-Commerce is in the top 33% of the 250+ Zacks industries. Our analysis reveals that the top 50% of Zacks-ranked sectors beat the bottom 50% by more than 2 to 1.
Wayfair (W), another industry stock, has not reported quarterly results for December 2023. The results should be revealed on February 22. This online home products retailer is likely to record a $0.22 per share quarterly loss, up 87.1% year-over-year. Over the past 30 days, the consensus quarter EPS estimate has increased 11%.
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