AMZN Looks solid with rev and op inc beat; op inc guide better than street + bogeys; AWS slight miss at 19% vs bogeys of 20% and street at 19%
Op inc beat and better guide is key given that was key worry after last q and most took down numbers going into the q. Revs for Q3 solid….Another key will be what AWS fwd commentary and backlog sound like on the call - need to at least say accel
GUIDANCE: Q4
- Guides net sales $181.5B to $188.5B, EST $186.36B
- Guides op inc to $16-$20B vs street at $17.5B and bogeys lower than that
AMZN RESULTS: Q3
- Net sales $158.88B, +11% y/y, EST $157.29B
- Online stores net sales $61.41B, +7.2% y/y, EST $59.64B
- Physical Stores net sales $5.23B, +5.4% y/y, EST $5.17B
- Third-Party Seller Services net sales $37.86B, +10% y/y, EST $38.22B
- Subscription Services net sales $11.28B, +11% y/y, EST $11.17B
- AWS net sales $27.45B, +19% y/y, EST $27.49B
- North America net sales $95.54B, +8.7% y/y, EST $95.22B
- International net sales $35.89B, +12% y/y, EST $34.55B
- Third-party seller services net sales excluding F/X +10% vs. +18% y/y, EST +11.8%
- Subscription services net sales excluding F/X +11% vs. +13% y/y, EST +9.86%
- Amazon Web Services net sales excluding F/X +19% vs. +12% y/y, EST +19.2%
- EPS $1.43 vs. $1.26 q/q, EST $1.16
- Operating income $17.41B, +56% y/y, EST $14.75B
- Operating margin 11% vs. 7.8% y/y, EST 9.34%
- North America operating margin +5.9% vs. +4.9% y/y, EST +5.58%
- International operating margin 3.6% vs. -0.3% y/y, EST 1.23%
- Fulfillment expense $24.66B, +11% y/y, EST $24.35B
- Seller unit mix 60% vs. 60% y/y, EST 60.8%
INTC: Decent Q with rev and rev guide upside. Upside in revenue on the quarter and guide.
EPS miss but 63c of impact to non-gaap eps…given very low expects, investors will finally be happy that #s are going up…
From PR, “The actions we took this quarter position us for improved profitability and enhanced liquidity as we continue to execute our strategy. We are encouraged by improved underlying trends, reflected in our Q4 guidance.”
From PR “The impairment charges and accelerated depreciation for certain manufacturing assets of $3.1 billion increased GAAP and non-GAAP loss per share attributable to Intel by $0.57 and $0.63 per share, respectively
INTC GUIDANCE: Q4
- Guides revenue $13.3B to $14.3B, EST $13.63B
- Guides ADJ EPS $0.12, EST $0.08
- Guides ADJ gross margin 39.5%, EST 38.7%
RESULTS: Q3
- Revenue $13.28B, -6.2% y/y, EST $13.02B
- ADJ loss per share $0.46 vs. EPS $0.41 y/y
- ADJ gross margin 18% vs. 45.8% y/y, EST 38%
- R&D expenses $4.05B, +4.6% y/y, EST $4.28B
- ADJ operating loss $2.37B vs. profit $1.92B y/y
- ADJ operating margin -17.8% vs. 13.6% y/y
- Intel Products revenue $12.19B, EST $11.95B
- Client Computing revenue $7.33B, EST $7.46B
- Datacenter & AI revenue $3.35B, EST $3.15B
- Network & Edge revenue $1.51B, EST $1.39B
- Intel Foundry revenue $4.35B, EST $4.44B
- All Other Revenue $1.04B, EST $1.07B
- Altera revenue $412M, EST $396.8M
- Mobileye revenue $485M, EST $485.5M
- Other revenue $142M, EST $172.9M
