Amazon dinged in after-hours trading as heavy shipping investments continue

Shawn Knight

Posts: 13,056   +130
Staff member

As CNBC highlights, analysts were expecting $4.62 per diluted share but Amazon was only able to deliver $4.23 per share. Net income, meanwhile, slid to $2.1 billion from $2.9 billion a year ago. Earnings per diluted share in the third quarter of 2018 were $5.75. Operating income dipped to $3.2 billion from $3.7 billion a year ago.

Amazon’s share value is down 6.95 percent as of writing in after-hours trading.

The third quarter included sales from Prime Day 2019, the company’s annual sales event in mid-July. This year’s shopping extravaganza was bigger than Black Friday and Cyber Monday combined, Amazon said.

Amazon is in the midst of transitioning its Prime delivery service from two days to one day. “It’s a big investment,” CEO Jeff Bezos said, but “it’s the right long-term decision for customers.” Bezos added that they are prepping to make their 25th holiday season the best ever for Prime customers.

For the all-important fourth quarter holiday season, Amazon forecasted net sales of between $80 billion and $86.5 billion, below analysts’ expectations of $87.4 billion.

Masthead credit: Amazon package by Hadrian

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Uncle Al

Posts: 8,001   +6,775
In far too many cases they can't make the two day deadline; so how does this make it better? I've been having issues with a number of their drivers from my products being delivered to neighbors, to not delivered at all, trucks trying to turn around in my yard because the drivers could not manage to back out of the driveway and in one case the girl did $1,500 damage to the yard. They really need to tighten up their operation rather than continue with these silly promises .....
 

treetops

Posts: 3,064   +784
I looked at the glass door reviews for people who deliver for these Amazon delivery contractors... A lot of them said they wouldn't even know if they had a shift until they got to work. And they have to use their own vehicles. Shady