Jessica Lessin of The Information; Tom Forte, senior analyst with D.A. Davidson; and Ed Lee from The New York Times join ‘Closing Bell’ to discuss Amazon earnings. Subscribe to CNBC PRO for access to investor and analyst insights on Amazon and more: Amazon stock traded more than 4% lower after the company gave a wide guidance range for the fourth quarter. Amazon said sales in the fourth quarter will range $112 billion to $121 billion, about 28% to 38% growth from a year earlier. Analysts were expecting revenue of $112.3 billion. Still, the consensus on the Street was that the company will continue to grow.
“While we acknowledge the concerns around 4Q20 profitability as investments in the fulfillment network push into 4Q and COVID-19 costs remain elevated, we think these investments should lead to greater share gains going forward as eCommerce adoption accelerates due to COVID-19,” JPMorgan analysts said in a note Friday.
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