Amazon Is Getting Smoked This Morning
Advertisement
AP, Business Insider photoshop
Advertisement
It reported disappointing earnings last night, whiffing on revenue and EPS expectations. It provided weaker revenue guidance than expected. It also forecasted a big loss for the holiday quarter.
There's more: It took a $170 million write down related to the Fire phone, and it said it has $83 million in unsold Fire phones laying around. This confirms what everyone thought - the Fire phone is a flop.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
Basically, there was very little that was good for the company in the report.
Advertisement
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
- Women in Leadership
- Rupee declines 5 paise to 83.43 against US dollar in early trade
- Election Commission issues notification for sixth phase of Lok Sabha polls
- 6 Coffee recipes you should try this summer