{"id":45360,"date":"2023-08-07T07:59:37","date_gmt":"2023-08-07T11:59:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/amazon-stock-surpassed-the-street-expectations-in-q2\/"},"modified":"2023-08-07T07:59:39","modified_gmt":"2023-08-07T11:59:39","slug":"amazon-stock-surpassed-the-street-expectations-in-q2","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45360","title":{"rendered":"Amazon Stock Surpassed The Street Expectations In Q2"},"content":{"rendered":"
\n

Amazon\u2019s stock (NASDAQ
\n NDAQ
\n <\/fbs-ticker>: AMZN) has gained approximately 53% YTD as compared to a 17% rise in the S&P500 index over the same period. However, at its current price of $129, the stock is trading 11% below its fair value of $144 \u2013 Trefis\u2019 estimate for Amazon\u2019s valuation<\/strong>. <\/strong>The company outperformed the street expectations in the second quarter of 2023, with revenues increasing 11% y-o-y to $134.4 billion. It posted strong growth in each of three segments \u2013 North America (11%), International (10%), and Amazon
\n AMZN
\n <\/fbs-ticker> web services (12%). On the cost front, the operating expenses as a % of revenues decreased from around 97% to 94%. Further, the other income jumped from -$5.55 billion to $61 million in the quarter. Notably the other income mainly benefited from a pre-tax valuation gain from the common stock investment in Rivian Automotive. Overall, the net income improved from -$2.03 billion to $6.75 billion.<\/p>\n

The company\u2019s top line grew 10% y-o-y to $261.74 billion in the first half of FY2023. It was driven by an 11% increase in North America, a 5% rise in the International unit, and a 14% jump in the Amazon web services division. Further, the profitability numbers improved in the first half of 2023 due to lower operating expenses as a % of revenues and a significant drop in the total non-operating expense from $14.9 billion to $773 million. Altogether, the firm reported a net income of $9.92 billion vs. a net loss of $5.87 billion in the year-ago period.<\/p>\n

Moving forward, AMZN expects the revenues to remain between $138 billion to $143 billion in Q3 2023. Overall, we forecast Amazon\u2019s revenues<\/strong> to touch $558.35 billion in FY2023. Additionally, the adjusted net income margin is likely to improve in the year, resulting in a net income of around $15.82 billion and revenue-per-share of $55.22. <\/strong>This coupled with a P\/S multiple of 2.6x will lead to a valuation of $144.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Amazon\u2019s stock (NASDAQ NDAQ : AMZN) has gained approximately 53% YTD as compared to a 17% rise in the S&P500 index over the same period. However, at its current price of $129, the stock is trading 11% below its fair value of $144 \u2013 Trefis\u2019 estimate for Amazon\u2019s valuation. The company outperformed the street expectations […]<\/p>\n","protected":false},"author":1,"featured_media":45361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-45360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nAmazon Stock Surpassed The Street Expectations In Q2 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Amazon\u2019s stock (NASDAQ NDAQ : AMZN) has gained approximately 53% YTD as compared to a 17% rise in the S&P500 index over the same period. 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