The shares of AMZN climbed up above 3% in an extended trading session that took place on Thursday, after which the company brought out the earnings of its first quarter. The company has also beaten the expectations put before it by Wall Street when talked about both the revenue and the earnings.
There have been just a few companies that have profited from this surge as much as this conglomerate has. The results from the first quarter helped shape the business of the company which simply got enhanced by the pandemic- which led to sales going all the way over $108.5 billion.
The Stock Commentary Of AMZN
The guidance from the company for the second quarter indicates that the company will be expecting this momentum over the next quarter. This should also reduce the fears of investors that this business would be pretty slow in an environment hit by the pandemic. The company will be expecting a revenue generated between $110 billion, and $116 billion- which is going to be more than the expectation of Wall Street at $108.6 billion.
Importantly, the stocks of AMZN confirmed this guidance that the Prime Day of this company will be taking place in the month of June- something that will definitely assist in the comparisons taking place year-over-year for revenue in the second quarter. Usually, the annual two-day discount by the company takes place in the month of July, but the company has ended up postponing the event to the month of October.
As it has been expected, the sales of AMZN will be incurring fewer costs for the entirety of this year when they are taking safety measures related to the coronavirus. The income for operating has been forecasted between $4.5 billion, to $8 billion amidst the second quarter.
