Amazon Slammed On Light Q4 Guidance
Revenue guidance for the all-important Q4 is $6-$7 billion. Current revenue estimates are for $7.05 billion, so they'd have to nail the top side to be close. The op income outlook of $145-$305 million, is way below the $400 million or so the street was looking for (per CNBC). The stock is off at least 14% in immediate after hours trading.
See also:
Analyst Reduces Amazon Ahead Of Earnings: "Nobody Is Immune"
We'll cover the conference call LIVE at 5:00 PM ET.
Did Amazon have a much bigger miss than reported??? Looks like they it to me. Check out the $53 million "non-cash gain." Excluded from operating full year guidance last three month ago. Now, it is included in full year guidance.
From last quarter's 8-K:
ITEM 7.01. REGULATION FD DISCLOSURE.
In Amazon.com, Inc.’s press release announcing its second quarter 2008 financial results issued earlier today, the Company provided full year 2008 expectations for operating income of between $745 million and $920 million. **These amounts exclude** the impact of the $53 million non-cash gain recognized in the second quarter 2008 on the sale of the Company’s European DVD rental assets.
http://www.sec.gov/Archives/edgar/data/1018724/000119312508156567/d8ka.htm
From this quarter's press release:
Full Year 2008 Expectations
-Operating income is expected to be between $716 million and $876 million, or to grow between 9% and 34% compared with 2007. **This guidance includes** approximately $300 million for stock-based compensation and amortization of intangible assets and includes the impact of the $53 million non-cash gain recognized in the second quarter 2008 on the sale of the Company’s European DVD rental assets...
http://biz.yahoo.com/bw/081022/20081022006312.html?.v=1
Booze (cheap) and cigarettes should be good. Everyone else will guide down. Note to Kimberly Clark: I personally started wiping my ass with newspaper. A trend that I expect to catch on. You know its kind of a green thing-recycling-...well not actually green.
Seriously, it is hard to guees what real expectations are because only a moron would think estimates are staying flat for any consumer driven company. Is this the last morons out of the barn or are there really that many people that think retailers are going to guide up or flat for the 4Q and 2009?
$53 million? Jeff Bezo's spent $53 million on lap dances last time he was in Vegas.
THANKS OK ...................
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