Amazon and Alphabet released their third quarter financial results this afternoon. Amazon's net profit in the period was high, a factor of 10 of $ 2.8 billion, up from the third quarter of last year.
In addition, earnings per share of $ 5.75 was crushed by Wall Street forecasts for a $ 3.14-per-share gain in the third quarter. Normally, both information should have resulted in a frantic purchase of the title. Instead, suppliers have taken over the publication of the report.
Instead of third-quarter profits, investors focused on something else. Creator of virtual assistant Alexa and smart speaker Echo estimated fourth-quarter operating profit in the range of $ 2.1 billion to $ 3.6 billion, down from the previous forecast of $ 3.9 billion for the period.
The company also reduced its fourth-quarter revenue forecast from $ 66.5 billion to $ 72.5 billion, down from Wall Street's $ 73.79 billion consensus.
Google's father, Alphabet, also today announced above-expected results for the third quarter. The company's earnings per share for the three-month period from July to September was $ 13.06, compared to $ 10.42 per share, according to Wall Street forecasts. But revenues of $ 33.7 billion were lower than Wall Street's forecast of $ 34.04 billion. With $ 33.5 billion in revenue, Google accounted for most of the alphabet revenue during the quarter. Google generated advertising revenue of nearly $ 29 billion in those three months.
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