Amazon Earnings — After falling 7.8% yesterday, we originally had Amazon in What’s Rotten. But daaayumm, that earnings report caused a 180 real quick as its shares gained about 14.2% after hours. Let’s check it out.
First of all, shares plummeted intraday, likely on spillover bearishness from Meta’s embarrassingly horrific call on Wednesday. Amazon, on the other hand, killed it.
Analysts were expecting a modest EPS of $3.77/sh from the firm for the quarter, but instead, and I promise this isn’t a typo, Amazon reported $27.75/sh. Yup, you read that right.
Net income doubled year-over-year all thanks to a damn good investment in a little-known EV firm called Rivian. Ever heard of it? Profits ballooned to $14.3bn in Q4 and an insane $33.4bn for the full year.
Not that anyone cares, but revenue actually missed estimates, albeit very slightly. The retail business came in light while AWS, as always, did manage to beat sales expectations.
In total, top line grew over 21% in 2021. Third in the world for most revenue earned in 2020, Amazon might just have dethroned the current champ and industry rival Walmart at this rate.
Records were broken like the Cybertruck’s window back in late 2019. For starters, Black Friday, Cyber Monday, and the weekend days in between blew away previous year’s numbers. Meanwhile, the month-long Great Indian Festival sales event also destroyed previous records for sales during this period.
Amazon broke ground on its soon-to-open retail clothing store, Amazon Style, in which machine-learning and other magic will make you feel like you’re shopping in 2050. Using the much-memed concept of Amazon Go, the firm partnered with fellow Washington-based company Starbucks to drive traffic into these brick-and-mortar locations. And lastly, you’ll soon be able to venmo Bezos & Co. directly on their website.
It was a wild year for everyone, but clearly, it worked well for Amazon. The day before yesterday, we saw Meta bring the entire market down with it. Now we ask, will Amazon be the hero of today and lift everything up?
Winter is coming — One thing that Amazon can’t lift up, however, is the temperature across the midwest and the southern U.S. Actually, I wouldn’t even be surprised if they could. But we can confirm they haven’t done it yet.
Yesterday, U.S. airlines canceled over 3,800 flights all over the place as Mother Nature heaped piles of snow and sucked the heat out of areas like New Mexico, Illinois, and once again, Texas.
A range of 1-2ft of snow is projected to cover the grounds of Colorado and the surrounding areas, while the National Weather Service forecasted temperatures to feel as low as -5 degrees Fahrenheit in locations as far south as Dallas.
Remember that whole Texas freeze thing last year? It’s like that, but potentially way bigger and worse. We up north know a thing or two about snow, but down there, talking about snow is like talking to a Bostonian about being nice to people — they just don’t get it.
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