Amazon Stock Is Rising Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
Amazon.com Inc (AMZN) shares rose in after-hours trading on Thursday, following strong earnings reports from Microsoft Corp (MSFT) and Alphabet Inc (GOOG). Microsoft reported a 17% increase in Q3 revenue and earnings above estimates, while Alphabet reported a 15% increase in Q1 revenue, beating estimates, and announced a $70 billion buyback and its first-ever dividend. Amazon's stock rebounded after a day of selling pressure, influenced by Meta Platforms Inc's (META) earnings sell-off. Amazon is expected to report its Q1 financial results soon, with anticipated earnings of 83 cents per share on $142.495 billion in revenue.
April 25, 2024 | 9:31 pm
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NEGATIVE IMPACT
Meta Platforms Inc faced a sell-off on earnings, contributing to initial selling pressure on Amazon and other tech stocks before a rebound.
Meta's earnings sell-off had a negative ripple effect on Amazon and other tech stocks, indicating market sensitivity to earnings reports within the sector.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Amazon's stock rose after hours following positive earnings reports from Microsoft and Alphabet, indicating investor optimism ahead of its own earnings report.
Amazon's stock movement is directly influenced by the positive market reaction to its peers' earnings reports, suggesting a bullish outlook for Amazon's upcoming earnings.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Alphabet reported a 15% increase in Q1 revenue, surpassing estimates, and announced a $70 billion buyback and its first-ever dividend, leading to a 13.5% stock increase.
Alphabet's earnings beat, coupled with a significant share repurchase program and the initiation of a dividend, has positively impacted its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
POSITIVE IMPACT
Microsoft reported a significant beat on both top and bottom lines for Q3, with a 17% revenue increase, driving its stock up over 4%.
Microsoft's strong earnings report, particularly its revenue growth and earnings per share beat, directly contributed to its stock price increase.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90