FirstFT: Amazon revenue did not meet Wall Street goals


World update

Good morning.This article is our live version First FT communication.Register our Asia, Europe/Africa Either America A version sent directly to your inbox every working day morning

What is your understanding of the news this week?Take our test.

Amazon’s second quarter revenue growth but Does not meet the standard Although the overall profit of the e-commerce giant has increased by 50% compared to the same period last year, Wall Street’s expectations are high.

Net income for the three months from April to June was US$7.8 billion, or diluted earnings per share of US$15.12, easily exceeding analysts’ expectations of US$6.4 billion.

According to FactSet’s consensus data, revenue increased by 27% over last year, reaching 113 billion U.S. dollars, lower than the expected 115 billion U.S. dollars.

Although Amazon launched its flagship Prime Day sales event, which caused it to decline in the second quarter, revenue declined. The stock price fell more than 5% in after-hours trading.

There are five more stories in the news

1. U.S. economic growth is weaker than expected U.S. economic growth Slight increase At an annual rate of 6.5% in the second quarter, growth was weaker than expected because strong consumption was partially offset by lagging real estate investment and inventory reduction.

2. Robinhood’s stock price fell on the first day of trading Popular apps that brought free transactions to millions of Americans found investor demand sluggish when they first traded.The stock opened at $38 per share, which was the bottom of the target range previously sold to buyers in IPOs Down by up to 12% Noon in New York to $33.35.

3. China seeks to ease the concerns of international investors According to three people familiar with the situation, Beijing’s regulators held a conference call with global investors, Wall Street Bank and China Financial Group executives on Wednesday night to ease the impact of the new strict restrictions on private education companies on the market. Worry.Call message Boost China’s stock market today.

  • In related news: Softbank is selling A large piece As the world’s most aggressive technology investor, its shares in Uber, a taxi-hailing group, face huge losses from betting on China’s Didi Chuxing.

4. The founder of Nikola was accused of making false statements U.S. federal prosecutors accuse Trevor Milton Misleading investors About the products and technologies of electric truck startups. Milton, who stepped down as chairman of Nikolai last year, pleaded not guilty and was released on bail of $100 million.

5. Scarlett Johansson sues Disney American actresses have Suing Disney, Accused the Marvel boss of violating her contract and released the Black Widow movie on the movie theater and its streaming service on the same day, thus suppressing box office sales.

Tokyo Olympic finals

Pole vault champion Sam Kendricks, defending champion, withdrew from the Olympics after testing positive for Covid-19 © AFP via Getty Images

  • Japan Won two Olympic gold medals in skateboarding Officially banned Most public places in this country are fighting for the future of this sport.

  • China Rush to victory In the women’s 4×200m freestyle relay, leading from start to finish, setting a world record of 7:40.33.

  • Defending pole vault world champion Sam Kendricks To quit a race After testing positive for Covid-19.Rival vault Germain Chiaravilio After being tested positive from Argentina, he was also forced to withdraw.

  • American gymnast Li Sunisa Bring home gold After a turbulent year, she once wanted to withdraw from the Olympics.

  • football The union is seeking to use its Olympic popularity By starting to discuss private equity investments worth hundreds of millions of pounds. (FT, Associated Press)

Add to ‘Tokyo Olympics‘Go to myFT to learn about all our coverage of the Olympics, don’t miss our “Alternative Medal Table”.

the day before

Japanese industrial production National factory output data will be released today. May, one Car production dropped sharply It spurred Japan’s largest monthly industrial production decline in a year—a decline of 5.9% compared to April. (UK “Financial Times”, Reuters)

U.S. oil major reports earnings Exxon Mobil and Chevron are expected to announce when they announce substantial earnings for the second quarter Friday report. Keep up to date with the latest news in the industry through our energy newsletter.register here.

Eurozone GDP Data released on Friday is expected to show Eurozone GDP growth The fastest speed in ten years, But some people worry that the government may cut support too early.

Compared with the United States, Eurozone GDP will not return to its pre-epidemic level until next year; the fourth quarter of 2019=100

Coronavirus Digest

register For us Coronavirus business update Newsletter and get the latest information about us Blog.

What are we still reading

There are more questions than answers in Hong Kong courts Two years later, the mystery of mob attacks on commuters and democratic protesters is still under review. Write Nicole LiuAlthough thousands of pro-democracy activists have been arrested, the mastermind has not yet been determined, and only eight of the attackers have been brought to court.

Music label split due to Spotify royalty plan end of last year, Spotify started asking record companies join”Discovery modeThrough it, Spotify prioritizes artists’ songs on selected music sources in exchange for reduced royalties. However, so far, the response of major record companies has ranged from verbal to resolute opposition.

The Republican Party has become a nihilistic party The whole party now has a truth, this is what Donald Trump said, even if it’s different after breakfast, Edward Luce wroteThis week, at the hearing on Capitol Hill on January 6, the final determination of Trump’s ownership became clear. Read more about Edward on our website Swamp Notes Newsletter. register here.

A year of hell in Lebanon An explosion in the Lebanese port on August 4, 2020 killed more than 200 people, injured thousands, and caused losses worth approximately US$4 billion. This should be the lowest point in Lebanon. On the contrary, this is the beginning of a further decline, plunged into a year-long economic chaos, Chloe Cornwall wrote, He lives a mile from the place where the explosion occurred.

‘Every Tesla recommended’ In the past 18 months, there have been at least 69 start-ups Raised approximately US$7 billion Started to acquire successful Amazon sellers, hoping to build a series of top brands. Some companies, such as Acquco, are using gimmicks to provide a Tesla to each recommended company they acquire to help them stand out.

Newsletter recommended for you

Swamp notes — Expert insights into the intersection of money and power in American politics.register here

Trade secrets — A must-read book on the changing face of international trade and globalization.register here



Source link