CNBC's Deirdre Bosa provided investors with key metrics to watch on Amazon.com, Inc. AMZN following its second-quarter financial results, Friday on CNBC's "Squawk On The Street."
What Happened: Amazon reported quarterly earnings of $15.12 per share, which beat the estimate of $12.22 per share. The company reported quarterly revenue of $113.08 billion, which came in below the estimate of $115.07 billion.
Amazon said it expects third-quarter revenue to be in a range of $106 billion to $112 billion, which was lower than the estimate of $118.62 billion.
Key Metrics: The third-quarter guidance is the main reason for the sell-off in Amazon's stock, Bosa said.
The midpoint of the guidance would represent growth of 13% year-over-year. This 13% growth rate would be Amazon's slowest in 20 years, she said.
Amazon is typically conservative with its guidance, so the company may be setting itself up for an upside surprise, she noted.
Advertising revenues were up 87% and Amazon Web Services sales increased by 37%, Bosa said.
Amazon is still easily ahead of Microsoft Corp MSFT and Alphabet Inc GOOGL GOOG in cloud infrastructure, she noted.
See Also: Amazon Is Hiring A Crypto Expert For Its Payment Acceptance Team
Price Action: Amazon has traded as high as $3,773.08 and as low as $2,871 over a 52-week period.
At last check Friday, the stock was down 7.18% at $3,341.29
Photo: Courtesy of Amazon.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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