Amazon reported its third quarter earnings on October 22nd, and the results were an exciting indicator of how e-commerce is growing rapidly.
Amazon’s third quarter revenue was $25.4 billion
Earnings per share was $0.17 per share
Net income was $79 million
Currently Amazon is winning the competitive battle in online the retail and consumer goods industry. Amazon(AMZN)has a great consumer following which allows for consistent growth. In comparison to Walmart(WMT) which mentioned in their third quarter earnings that they would be expecting a decrease in sales, particularly in e-commerce. Just another sign that in order to strive you have to create a consumer centered firm that will improve consumers’ accessibility and experience.
At the time of this commentary Michael Ojo, his family and/or clients of Golden Door Asset Management held no positions in the stocks mentioned above — although positions can change at any time.
Michael Ojo is the Managing Director of Golden Door Asset Management, LLC,a registered investment advisor specializing in individual and high net worth individual private wealth management. For more information on investing with Golden Door Asset Management, LLC please visit our website, www.goldendoorasset.com. Golden Door Asset Management, LLC is a New Jersey LLC, with its principal office located in Princeton, NJ.
Michael Ojo is also the publisher of CareStocks, a newsletter focusing in on healthcare services, medical equipment, technology and real estate stocks. More information to the newsletter can be found at www.carestocks.com.