- Title: Amazon forecasts third-quarter revenue above expectations
- Date: 3rd August 2023
- Summary: MELVILLE, NEW YORK, UNITED STATES (FILE - JULY 11, 2023) (REUTERS) AMAZON TRUCK PULLING INTO LOT CLOSE OF AMAZON TRUCK AMAZON WAREHOUSE EXTERIOR PACKAGES ON CONVEYOR BELT EMPLOYEES CHECKING PACKAGES BIN FULL OF PACKAGES VARIOUS OF CONVEYOR BELT WITH PACKAGES WIDE OF WAREHOUSE AMAZON EMPLOYEE TAKING PACKAGES OFF CONVEYOR BELT PACKAGES IN BINS VARIOUS OF PACKAGES MOVING DOWN AND UP CONVEYOR BELT FLOOR-TO-CEILING SHELVES HOLDING PRODUCTS CLOSE OF SHELVES, BOXES STACKED ON FLOOR CLOSE OF PRODUCT ON SHELVES VARIOUS OF WAREHOUSE WORKERS WIDE OF WAREHOUSE VARIOUS OF AUTOMATED CONTAINERS LAGUNA BEACH, CALIFORNIA, UNITED STATES (FILE - OCTOBER 25, 2016) (REUTERS) (MUTE) VARIOUS OF PHOTOGRAPHS OF AMAZON, CEO, ANDY JASSY, SPEAKING AT WSJD (WALL STREET JOURNAL) LIVE TECH CONFERENCE ROBBINSVILLE, NEW JERSEY, UNITED STATES (FILE - NOVEMBER 29, 2021) (REUTERS) VARIOUS OF AMAZON FULFILLMENT CENTER
- Embargoed: 17th August 2023 15:59
- Keywords: AMAZON Prime Day forcast revenue
- Location: VARIOUS
- City: VARIOUS
- Country: US
- Topics: Company News Markets,Economic Events,North America
- Reuters ID: LVA001016726072023RP1
- Aspect Ratio: 16:9
- Story Text:Amazon.com forecast third-quarter revenue above Wall Street expectations on Thursday (August 3), boosted by its biggest Prime Day sale event in July that drew price-conscious consumers to its e-commerce platform.
Shares of the e-commerce and cloud giant rose 6% in trading after the bell.
Discounts on goods and deal codes for the first time on services like hotel bookings drove U.S. online sales up 6.1% to a record $12.7 billion during Amazon's shopping event as inflation-hit Americans rushed to seize more bargains.
Amazon's nearly 200 million Prime members saved over $2.5 billion on about 375 million items sold during the two-day event.
Analysts expect that to boost advertising and merchant services revenue too as more third-party merchants sign-up.
The company forecast current-quarter net sales in the range of $138 billion and $143 billion. Analysts polled by Refinitiv were expecting revenue of $138.25 billion.
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