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Scout Daily Update: Amazon.com, Inc. (AMZN) Misses EPS Expectations

STOCK NEWS

Amazon.com, Inc. (NASDAQ:AMZN): reported Q3 EPS of $0.52 which missed expectations by $0.26. Revenues of $32.7 billion were up 28.9% and in-line with expectations. North American revenue was $18.874 billion which was up 26% year over year. International revenue was $10.609 billion which was up 28% year over year.

Amazon Web Services revenue was $3.231 billion which was up 55%. Q4 net sales are expected to be $42-$45.5 billion which would be up 17%-27%. Operating income is expected to be $0-$1.25 billion, compared to last year’s income of $1.1 billion.

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Alphabet Inc (NASDAQ:GOOGL): reported EPS of $9.06 which beat estimates by $0.43. Revenue was $22.45 billion which was up 20.2% and beat estimates by $400 million. Google revenues were $22.254 billion which was up from $18.534 billion last year. Google operating income was $6.778 billion which was up from $5.807 billion. Other bets revenue was $197 million which was higher than last year’s $141 million last year. Other bets operating loss was $865 million versus a loss of $980 million last year.

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Exxon Mobil Corporation (NYSE:XOM): reported Q3 EPS of $0.63 which beat estimates by $0.05. Revenues of $58.7 billion were down 12.8% year over year and missed estimates by $2.64 billion. Q3 profit in the exploration and production (upstream) business fell 16% to $620 million. In America, upstream loss was $477 million which was worse than last year’s $442 million. Q3 profit in the refining and marketing, or downstream, business declined 40% to $1.2 billion. The firm blamed weak refining margins on segment earnings, having a $1.6 billion negative effect. Volume and mix helped earnings by $170 million.

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Chevron Corporation (NYSE:CVX): reported Q3 EPS of $0.68 which beat estimates by $0.31. Revenue of $30.14 billion was down 12.2% and beat estimates by $1.09 billion. The upstream business lost $212 million which was better than the $603 million loss last year. This was helped by lower operating and depreciation expense and hurt by lower tax items. Downstream profits fell 52% to $1.07 billion. Margins in this business fell internationally and in the U.S.

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ECONOMIC NEWS

Consumer sentiment fell again which is a bad sign for the holiday season which is approaching. It is now at a 2 year low. The GDP growth report was good if you look at the 2.9% headline number, but when you delve deeper, you can see 0.9% of the growth was caused by a temporary increase in soybean exports because of poor harvests in Brazil and Argentina. This result may increase the chances of a fed rate hike, but I still think the Fed is bluffing.

Note: This article was originally published by Scout Finance. Scout Finance’s iPhone and iPad application provides the easiest way to monitor stock prices, read documents, create charts, access financial data, receive breaking alerts, and more for the companies you care about most. Download and try for free today: http://link.scoutfin.com/insidermonkey

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