Bullish Tech Stock to watch: Amazon.com, Inc. (NASDAQ: AMZN)

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Amazon.com, Inc. (NASDAQ: AMZN) stock rose over 17.8% in the last one month (As of May 11th, 2020; Source: Yahoo finance) driven by the overall market recovery and positive sentiment over e-commerce. For the first quarter of FY 20, the company’s net income fell to $2.5 billion in the first quarter compared to net income of $3.6 billion in first-quarter 2019. However, Amazon generated 16% increase in the operating cash flow to $39.7 billion for the trailing twelve months, compared to $34.4 billion for the trailing twelve months ended March 31, 2019. There is increase in the free cash flow to $24.3 billion for the trailing twelve months, compared to $23 billion for the trailing twelve months ended March 31, 2019.

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Meanwhile, the company has expanded Whole Foods Market grocery pickup from about 80 stores to more than 150, adjusted store hours for select locations to focus exclusively on fulfilling online grocery orders during certain times and have made it easier for customers to see when the next delivery window is available on the Prime Now, Amazon Fresh, and Whole Foods Market homepages.

Moreover, during the quarter, Prime Video launched Prime Video Cinema in the U.S., the U.K., and Germany. Amazon announced that over 15,000 small and medium-sized businesses selling in Amazon’s stores in the U.S. have crossed $1 million in sales in 2019. Further, AWS has opened the AWS Europe (Milan) and AWS Africa (Cape Town) Regions. AWS now covers 76 Availability Zones within 24 geographic regions, with announced plans for nine more Availability Zones and three more AWS Regions in Indonesia, Japan, and Spain.

AMZN in the first quarter of FY 20 has reported the adjusted earnings per share of $5.01, missing the analysts’ estimates for the adjusted earnings per share of $6.25. The company had reported the adjusted revenue growth of 27 percent to $75.5 billion in the first quarter of FY 20, beating the analysts’ estimates for revenue of $73.61 billion. The operating income decreased to $4 billion in the first quarter, compared to operating income of $4.4 billion in first quarter 2019.

For the second quarter of 2020, the company expects net sales to be between $75.0 billion and $81.0 billion, or anticipated to grow between 18% and 28% compared to second quarter 2019. This includes the anticipated unfavorable impact of approximately 70 basis points from foreign exchange rates.

Operating income (loss) is projected to be between $(1.5) billion and $1.5 billion, compared to $3.1 billion in second quarter 2019, including approximately $4 billion of costs related to COVID-19.

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