🔥Amazon’s earnings weren’t bad at all, yet the market is fixated on one $42.4 billion negative cash flow bill.
Q3 results after Thursday’s close: revenue of $201.94 billion, up 12% year over year, slightly below expectations of about $202.2 billion.
Earnings per share came in at $1.89, also below expectations of about $1.97.
AWS really stood out: $46 billion, up 39% year over year—the fastest growth in nearly five years.
Operating income was $28.1 billion, up 61% year over year, with a record-high operating margin of 13.9%.
But the other side of the ledger is hard to ignore: the company spent $77.3 billion on equipment in a single quarter, compared with just $35.1 billion in the same period last year. Free cash flow over the past 12 months was negative $42.4 billion, versus positive $14.8 billion a year ago.
They haven’t cut a cent from their $220 billion in capital expenditures for the full year—essentially telling the market they’ll keep burning cash next year, too.
It’s not easy on Binance’s side either: BTCUSDT is around $77,628 tonight, trading in a range of $76,326 to $78,110 over the past 24 hours.
U.S. spot Bitcoin ETFs saw net outflows of $643 million on Friday, while Binance withdrawals are still paused, with a phased resumption targeted for Sunday.
The sentiment on both fronts boils down to one thing: keep telling a story about spending, and eventually you’ll have to prove it with cash flow.
I’m staying put. I’ll only say things are turning around if it gets back above $243.79 (Thursday’s close); a break below $229.36 (Friday’s low) invalidates that view.
It plunged more than 7% intraday Friday, but closed down just 1.41% at $240.35. Buyers showed up, but that doesn’t mean the decline is over.
The market will sooner or later scrutinize every part of the bill for growth bought with cash burn. $INTC
#亚马逊 #美股 #AMZN
Q3 results after Thursday’s close: revenue of $201.94 billion, up 12% year over year, slightly below expectations of about $202.2 billion.
Earnings per share came in at $1.89, also below expectations of about $1.97.
AWS really stood out: $46 billion, up 39% year over year—the fastest growth in nearly five years.
Operating income was $28.1 billion, up 61% year over year, with a record-high operating margin of 13.9%.
But the other side of the ledger is hard to ignore: the company spent $77.3 billion on equipment in a single quarter, compared with just $35.1 billion in the same period last year. Free cash flow over the past 12 months was negative $42.4 billion, versus positive $14.8 billion a year ago.
They haven’t cut a cent from their $220 billion in capital expenditures for the full year—essentially telling the market they’ll keep burning cash next year, too.
It’s not easy on Binance’s side either: BTCUSDT is around $77,628 tonight, trading in a range of $76,326 to $78,110 over the past 24 hours.
U.S. spot Bitcoin ETFs saw net outflows of $643 million on Friday, while Binance withdrawals are still paused, with a phased resumption targeted for Sunday.
The sentiment on both fronts boils down to one thing: keep telling a story about spending, and eventually you’ll have to prove it with cash flow.
I’m staying put. I’ll only say things are turning around if it gets back above $243.79 (Thursday’s close); a break below $229.36 (Friday’s low) invalidates that view.
It plunged more than 7% intraday Friday, but closed down just 1.41% at $240.35. Buyers showed up, but that doesn’t mean the decline is over.
The market will sooner or later scrutinize every part of the bill for growth bought with cash burn. $INTC
#亚马逊 #美股 #AMZN