Source: Dreamstime
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An increasing number of people are reverting back to pre-covid shopping habits, and perhaps nobody felt the shockwave better than Amazon. After falling short of analysts’ forecasts, the company stock slid over 7% in extended-hours trading last Thursday.
Now, it’s up to the company’s new CEO, Andy Jassy, to reassure investors as to how the business is planning to retain its record growth, especially under the mounting scrutiny of regulators both on U.S. and European soil.
Financial performance for Q2 2021
“Amazon expects the slower growth to continue throughout the next few quarters.”
Brian Olsavsky, CFO
The company’s CFO blamed the unsatisfactory performance on “tough year-over-year comparisons” to its business as, back in 2020, the company’s growth was largely fuelled by the strict COVID-19 lockdowns. Lockdowns, which, with a few notable exceptions, are nowhere nearly as severe today. As a reference, Olsavsky pointed out that Amazon’s growth rates jumped from 35% to 45% in just mid-May last year.
Not all is doom and gloom in Amazonland, though. Here are the main financial highlights from Amazon’s latest earnings release:
– Gross revenue: $113.08 billion vs expectations for $115.2 billion
– Net profits: $7.8 billion (up from $5.2 billion last year)
– Earnings: $15.12 vs expectations for $12.30 per share
– Year-over-year growth: 27%, compared to the 41% for the same period last year
– Amazon Web Services: year-over-year growth of 37% ($14.81 billion) compared to the 32% growth ($14.20 billion) from last year
– Advertising and other services unit: year-over-year growth of 87%, with its cloud computing and subscriptions businesses also remaining highly profitable
Number of employed people: up 52% on a yearly basis, or 1.33 million people currently employed worldwide
Forecast for the Q3 2021
“Our customers are safe and healthy and ordering from us. And we know that there’ll be more vacations or more mobility. There’ll be things that probably people shied away from last year and that’s all good. . . . But it does tend to lead them to do other things besides shopping.”
Brian Olsavsky
So far, Amazon has published a rather lacklustre Q3 guidance, stating that it expects the growth to further slow down in the upcoming months and forecasts the operating profit figure to range between $2.5 and $6 billion. The company is not alone in its “plight”. We would like to remind our readers that Facebook and Apple are also expecting declining growth rates as we move further away from what came to be known as the year of the global pandemic.
Upcoming reports
See the full list of upcoming earnings reports for 2-6 August in the tables below.
Monday, 2 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Eastman Chemical Co | Q2 2021 |
| Switzerland | Transocean Ltd | Q2 2021 |
| USA | Williams Companies Inc | Q2 2021 |
| Kingdom of the Netherlands | NXP Semiconductors NV | Q2 2021 |
| USA | SBA Communications Corp | Q2 2021 |
| USA | Arconic Corp (PITTSBURGH) | Q2 2021 |
| USA | Monster Beverage Corp | Q2 2021 |
| USA | Wynn Resorts Ltd | Q2 2021 |
| Italy | Ferrari NV | Q2 2021 |
| United Kingdom | RIT Capital Partners PLC | Half Year 2021 |
| United Kingdom | Senior PLC | Half Year 2021 |
| Kingdom of the Netherlands | OCI NV | Half Year 2021 |
| France | AXA SA | Half Year 2021 |
| Kingdom of the Netherlands | Heineken Holding NV | Half Year 2021 |
| United Kingdom | HSBC Holdings PLC | Half Year 2021 |
Tuesday, 3 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | O-I Glass Inc | Q2 2021 |
| USA | Microchip Technology Inc | Q1 2022 |
| USA | Devon Energy Corp | Q2 2021 |
| USA | Occidental Petroleum Corp | Q2 2021 |
| USA | Lyft Inc | Q2 2021 |
| USA | Verisk Analytics Inc | Q2 2021 |
| USA | Activision Blizzard Inc | Q2 2021 |
| USA | Akamai Technologies Inc | Q2 2021 |
| USA | Amgen Inc | Q2 2021 |
| Brazil | Banco Bradesco SA | Q2 2021 |
| USA | Franklin Resources Inc | Q3 2021 |
| USA | Dupont De Nemours Inc | Q2 2021 |
| USA | Nikola Corporation | Q2 2021 |
| USA | Expeditors International of Washington Inc | Q2 2021 |
| USA | Cummins Inc | Q2 2021 |
| USA | Marriott International Inc | Q2 2021 |
| USA | Eli Lilly and Co | Q2 2021 |
| China | Alibaba Group Holding Ltd | Q1 2022 |
| Canada | Bausch Health Companies Inc | Q2 2021 |
| USA | Henry Schein Inc | Q2 2021 |
| USA | Discovery Inc | Q2 2021 |
| Kingdom of the Netherlands | Stellantis NV | Half Year 2021 |
| Italy | FinecoBank Banca Fineco SpA | Q2 2021 |
| USA | Progressive Corp | Q2 2021 |
| USA | Under Armour Inc | Q2 2021 |
| Mexico | Fresnillo PLC | Half Year 2021 |
| France | Societe Generale SA | Half Year 2021 |
| Germany | Bayerische Motoren Werke AG | Q2 2021 |
| Germany | Infineon Technologies AG | Q3 2021 |
| United Kingdom | BP PLC | Q2 2021 |
| Germany | Fraport AG Frankfurt Airport Services Worldwide | Half Year 2021 |
| Kingdom of the Netherlands | Koninklijke DSM NV | Q2 2021 |
| United Kingdom | Standard Chartered PLC | Half Year 2021 |
Wednesday, 4 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Western Digital Corp | Q4 2021 |
| USA | Sturm Ruger & Company Inc | Q2 2021 |
| USA | EOG Resources Inc | Q2 2021 |
| USA | Mckesson Corp | Q1 2022 |
| USA | Allstate Corp | Q2 2021 |
| USA | Booking Holdings Inc | Q2 2021 |
| USA | Inseego Corp | Q2 2021 |
| USA | ETSY Inc | Q2 2021 |
| USA | Hillenbrand Inc | Q3 2021 |
| USA | Lemonade Inc | Q2 2021 |
| USA | Electronic Arts Inc | Q1 2022 |
| USA | Uber Technologies Inc | Q2 2021 |
| USA | GoDaddy Inc | Q2 2021 |
| USA | ACADIA Pharmaceuticals Inc | Q2 2021 |
| Luxembourg | Tenaris SA | Q2 2021 |
| USA | Marathon Oil Corp | Q2 2021 |
| USA | Roku Inc | Q2 2021 |
| USA | MGM Resorts International | Q2 2021 |
| USA | APA Corp (US) | Q2 2021 |
| Brazil | Petroleo Brasileiro SA Petrobras | Q2 2021 |
| USA | Emerson Electric Co | Q3 2021 |
| USA | CVS Health Corp | Q2 2021 |
| USA | Plug Power Inc | Q2 2021 |
| USA | Exelon Corp | Q2 2021 |
| USA | Tupperware Brands Corp | Q2 2021 |
| USA | Entergy Corp | Q2 2021 |
| United Kingdom | Taylor Wimpey PLC | Half Year 2021 |
| Germany | Commerzbank AG | Q2 2021 |
| Germany | Heidelberger Druckmaschinen AG | Q1 2022 |
| Italy | Intesa Sanpaolo SpA | Q2 2021 |
| Kingdom of the Netherlands | Wolters Kluwer NV | Half Year 2021 |
| United Kingdom | Legal & General Group PLC | Half Year 2021 |
| Austria | voestalpine AG | Q1 2022 |
| Germany | Hugo Boss AG | Half Year 2021 |
Thursday, 5 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Zynga Inc | Q2 2021 |
| USA | Dropbox Inc | Q2 2021 |
| USA | FireEye Inc | Q2 2021 |
| USA | Square Inc | Q2 2021 |
| Belgium | Galapagos NV | Q2 2021 |
| USA | Cloudflare Inc | Q2 2021 |
| USA | Exelixis Inc | Q2 2021 |
| USA | Novavax Inc | Q2 2021 |
| USA | Yelp Inc | Q2 2021 |
| USA | American International Group Inc | Q2 2021 |
| USA | Illumina Inc | Q2 2021 |
| USA | Beyond Meat Inc | Q2 2021 |
| USA | GoPro Inc | Q2 2021 |
| USA | Motorola Solutions Inc | Q2 2021 |
| USA | Expedia Group Inc | Q2 2021 |
| USA | News Corp | Q4 2021 |
| USA | Floor & Decor Holdings Inc | Q2 2021 |
| USA | Tripadvisor Inc | Q2 2021 |
| Italy | Banco BPM SpA | Q2 2021 |
| USA | Cheniere Energy Inc | Q2 2021 |
| USA | Cardinal Health Inc | Q4 2021 |
| USA | Cigna Corp | Q2 2021 |
| Ireland | Aptiv PLC | Q2 2021 |
| USA | DENTSPLY SIRONA Inc | Q2 2021 |
| USA | Duke Energy Corp | Q2 2021 |
| Canada | Thomson Reuters Corp | Q2 2021 |
| USA | DISH Network Corp | Q2 2021 |
| USA | Regeneron Pharmaceuticals Inc | Q2 2021 |
| USA | ABIOMED Inc | Q1 2022 |
| USA | Zoetis Inc | Q2 2021 |
| USA | HanesBrands Inc | Q2 2021 |
| USA | NRG Energy Inc | Q2 2021 |
| United Kingdom | EVRAZ PLC | Half Year 2021 |
| Germany | Metro AG | Q3 2021 |
| Taiwan | Himax Technologies Inc | Q2 2021 |
| United Kingdom | Hammerson PLC | Half Year 2021 |
| United Kingdom | Mondi PLC | Half Year 2021 |
| Germany | 1&1 AG | Q2 2021 |
| Spain | Obrascon Huarte Lain SA | Half Year 2021 |
| Germany | Continental AG | Q2 2021 |
| Germany | Duerr AG | Q2 2021 |
| Germany | Siemens AG | Q3 2021 |
| Germany | Kuka AG | Q2 2021 |
| Germany | Evonik Industries AG | Q2 2021 |
| United Kingdom | Rolls-Royce Holdings PLC | Half Year 2021 |
| United Kingdom | WPP PLC | Half Year 2021 |
| Switzerland | Glencore PLC | Half Year 2021 |
| Germany | Prosiebensat 1 Media SE | Half Year 2021 |
| Germany | Beiersdorf AG | Q2 2021 |
| Germany | Rheinmetall AG | Q2 2021 |
| Germany | Deutsche Lufthansa AG | Q2 2021 |
| Germany | Hannover Rueck SE | Half Year 2021 |
| Germany | Adidas AG | Half Year 2021 |
| Germany | Bayer AG | Q2 2021 |
| Belgium | KBC Groep NV | Q2 2021 |
| Germany | Merck KGaA | Half Year 2021 |
| Germany | Aurubis AG | Q3 2021 |
| Germany | Deutsche Post AG | Q2 2021 |
| France | Credit Agricole SA | Half Year 2021 |
Friday, 6 August 2021
| Country | Company | Fiscal period |
|---|---|---|
| USA | Liberty Media Corp | Q2 2021 |
| USA | Dominion Energy Inc | Q2 2021 |
| USA | Berkshire Hathaway Inc | Q2 2021 |
| USA | Gannett Co Inc | Q2 2021 |
| Canada | Canopy Growth Corp | Q1 2022 |
| USA | Stericycle Inc | Q2 2021 |
| Canada | Cronos Group Inc | Q2 2021 |
| United Kingdom | Hikma Pharmaceuticals PLC | Half Year 2021 |
| United Kingdom | London Stock Exchange Group PLC | Half Year 2021 |
| Germany | Allianz SE | Q2 2021 |
| Kingdom of the Netherlands | ING Groep NV | Q2 2021 |
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