A company we talked much about in the late 90s was Amazon. Back then Amazons shares traded below $10. Now, shares are above $1000. On Wednesday, it closed at $1,052,80 which is up 12,93 points or 1,24% for the day. What a company.
It is a huge company and belive it or not, it is a strong momentum going on here and that indicates Amazon has strong growth potential for the future. The company reported a 34% YoY increase in third-party seller service revenues in the first quarter ($6,44 billion).
Amazon also had a 49% increase in subscription revenue in the first quarter ($1,94 billion). AWS revenues grew 43% to $3,66 billion.
Amazon acquired the brick-an-mortar grocery store chain Whole Foods and that will give the company a boost in the e-commerce business. This alone will add more value to its shareholders and therefore change Amazon`s margins.
Amazon.com Inc is expected to report earnings on Thursday 27 after market close. The report will be for the fiscal Quarter ending June 2017. Earnings forecast for the quarter is $1,4 versus $1,78 for the same quarter last year.
Expected revenue is $37,2 billion versus $30,4 billion in sales for the same quarter last year. Amazons market cap is now over $500 billion. Thats BIG. B.I.G.
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