Amazon (AMZN) stock fell after the company reported first quarter results as the e-commerce giant’s weak outlook overshadowed its earnings beat on the top and bottom lines.
First quarter net sales were $155.7 billion, slightly ahead of estimates of $155.16 billion, as earnings per share (EPS) came in at $1.59, beating the $1.36 expected. The company issued guidance, saying it expects its second quarter operating income to be between $13 billion and $17.5 billion, with the high end below analyst estimates.
Amazon (AMZN) shares are under pressure in extended-hours trading after the company issued operating income guidance of $13 billion to $17.5 billion, a wide range with the high end below Wall Street’s estimates.
ROTH MKM managing director and senior research analyst Rohit Kulkarni joins Market Domination Overtime with host Julie Hyman and Yahoo Finance Markets Reporter Josh Schafer to share his instant reaction to Amazon’s earnings print.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here:
https://finance.yahoo.com/videos/series/market-domination-overtime/
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