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2022-01-25
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Amazon Earnings Preview: What to Watch on Feb. 3<blockquote>亚马逊财报预览：2月3日看点</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":639079382,"tweetId":"639079382","gmtCreate":1643101314364,"gmtModify":1643101539685,"author":{"id":3578382329083125,"idStr":"3578382329083125","authorId":3578382329083125,"authorIdStr":"3578382329083125","name":"Hayleyxn","avatar":"https://static.tigerbbs.com/38f91d6f48b5ef2c23595e416b33bb59","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":33,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Oo</p></body></html>","htmlText":"<html><head></head><body><p>Oo</p></body></html>","text":"Oo","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/639079382","repostId":1182956358,"repostType":4,"repost":{"id":"1182956358","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1643100096,"share":"https://www.laohu8.com/m/news/1182956358?lang=zh_CN&edition=full","pubTime":"2022-01-25 16:41","market":"us","language":"en","title":"Amazon Earnings Preview: What to Watch on Feb. 3<blockquote>亚马逊财报预览：2月3日看点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1182956358","media":"Tiger Newspress","summary":"Amazon is slated to report its fourth-quarter and full-year 2021 results after the market close on T","content":"<p><html><head></head><body>Amazon is slated to report its fourth-quarter and full-year 2021 results after the market close on Thursday, Feb. 3. An analyst conference call is scheduled for the same day at 5:30 p.m. ET.</p><p><blockquote><html><head></head><body>亚马逊定于2月3日星期四收盘后公布2021年第四季度和全年业绩。分析师电话会议定于当天下午5:30举行。ET。</body></html></blockquote></p><p>The period to be reported on is the second quarter that Andy Jassy has been CEO of the e-commerce and technology giant.</p><p><blockquote>本报告期是安迪·贾西(Andy Jassy)担任这家电子商务和科技巨头首席执行官的第二个季度。</blockquote></p><p>Investors will probably be approaching Amazon's report with some apprehension. Last quarter, the company missed Wall Street's expectations for both revenue and earnings, with the bottom-line miss a sizable one. That was the second consecutive quarter that revenue fell short of the analyst consensus estimate.</p><p><blockquote>投资者可能会对亚马逊的报告有些担忧。上个季度，该公司的收入和盈利均未达到华尔街的预期，净利润大幅低于预期。这是收入连续第二个季度低于分析师普遍预期。</blockquote></p><p>Here's what to watch in Amazon's upcoming report.</p><p><blockquote>以下是亚马逊即将发布的报告中值得关注的内容。</blockquote></p><p><b>Amazon's key quarterly numbers</b></p><p><blockquote><b>亚马逊的关键季度数据</b></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a737a5a74be82f69eff8adbcb7d04ac9\" tg-width=\"554\" tg-height=\"160\" width=\"100%\" height=\"auto\"/><span>DATA SOURCES: AMAZON.COM AND YAHOO! FINANCE. NOTE: AMAZON DOES NOT PROVIDE EARNINGS GUIDANCE.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：亚马逊和雅虎！金融。注：亚马逊不提供盈利指引。</span></p></blockquote></p><p>While Amazon doesn't provide guidance for earnings, it does so for operating income. Management expects fourth-quarter operating income to range from $0 to $3 billion, compared with $6.9 billion in the year-ago period. This guidance range represents operating income declining by about 100% to 57% year over year.</p><p><blockquote>虽然亚马逊不提供盈利指引，但它提供了营业收入指引。管理层预计第四季度营业收入为0至30亿美元，去年同期为69亿美元。这一指导范围意味着营业收入同比下降约100%至57%。</blockquote></p><p>The world's e-commerce leader faced tough year-over-year comparables in the fourth quarter. In the year-ago period, revenue surged 44% and earnings per share soared 118% year over year. The fourth quarter of 2020 was particularly strong for two main reasons. First, the pandemic was raging and vaccines had only begun to roll out at the very tail end of the quarter/year. Second, Amazon held its annual Prime Day event in the fourth quarter of 2020 (October), whereas in 2021, this event took place in the second quarter (June).</p><p><blockquote>这家全球电子商务领导者在第四季度面临着严峻的同比业绩。去年同期，收入同比飙升44%，每股收益同比飙升118%。2020年第四季度特别强劲，主要有两个原因。首先，疫情肆虐，疫苗在本季度末才开始推出。其次，亚马逊在2020年第四季度（10月）举办了年度Prime Day活动，而在2021年，该活动在第二季度（6月）举行。</blockquote></p><p>In last quarter's earnings release, Jassy provided another reason -- increased costs -- that the company's bottom-line results are expected to decline significantly from the year-ago period:</p><p><blockquote>在上季度的财报中，贾西提供了另一个原因——成本增加——该公司的净利润预计将较去年同期大幅下降：</blockquote></p><p>In the fourth quarter, we expect to incur several billion dollars of additional costs in our consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs -- all while doing whatever it takes to minimize the impact on customers and selling partners this holiday season. It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.</p><p><blockquote>在第四季度，我们预计消费者业务将产生数十亿美元的额外成本，因为我们要应对劳动力供应短缺、工资成本增加、全球供应链问题以及运费和运输成本增加，同时尽一切努力将这个假期对客户和销售合作伙伴的影响降至最低。短期内这对我们来说会很昂贵，但对我们的客户和合作伙伴来说，这是正确的优先顺序。</blockquote></p><p>For context, in the third quarter, Amazon's revenue increased 15% year over year to $110.8 billion, missing the $111.6 billion the Street had expected, but coming in close to the high end of its guidance range of $106 billion to $112 billion. By segment, sales in North America, international, and Amazon Web Services rose 10%, 16%, and 39%, respectively. EPS dropped 51% to $6.12. That result fell considerably short of the analyst consensus estimate of $8.92.</p><p><blockquote>就背景而言，第三季度亚马逊营收同比增长15%至1108亿美元，低于华尔街预期的1116亿美元，但接近1060亿至1120亿美元指导范围的上限。按细分市场划分，北美、国际和亚马逊网络服务的销售额分别增长了10%、16%和39%。每股收益下降51%至6.12美元。这一结果远低于分析师普遍预期的8.92美元。</blockquote></p><p><b>AWS</b></p><p><blockquote><b>AWS</b></blockquote></p><p>Through the first nine months of 2021, Amazon's cloud segment, Amazon Web Services (AWS), generated $44.4 billion of revenue while operating at a 30% margin. For one point of comparison, Google Cloud contributed $13.7 billion of revenue for the first nine months of 2021 and is unprofitable, as it reported a loss of $2.2 billion.</p><p><blockquote>2021年前9个月，亚马逊的云部门亚马逊网络服务(AWS)创造了444亿美元的收入，同时运营利润率为30%。相比之下，谷歌云在2021年前9个月贡献了137亿美元的收入，但尚未盈利，因为它报告亏损22亿美元。</blockquote></p><p>What's even more staggering is the pace of AWS's growth. During Q3 2021, AWS generated $16.1 billion of revenue, which represented 39% year-over-year growth. Investors can see that the quarterly operating income of $4.9 billion for the AWS segment was more than Amazon's entire business combined. Amazon Web Services is arguably becoming the most important pillar of the company's ecosystem.</p><p><blockquote>更令人震惊的是AWS的增长速度。2021年第三季度，AWS创造了161亿美元的收入，同比增长39%。投资者可以看到，AWS部门的季度营业收入为49亿美元，超过了亚马逊整个业务的总和。亚马逊网络服务可以说正在成为该公司生态系统最重要的支柱。</blockquote></p><p><b>Digital advertising</b></p><p><blockquote><b>数字广告</b></blockquote></p><p>Amazon has been able to reinvest the profits from its cloud business into other segments, as the company works to differentiate itself from other technology behemoths. One area that is quickly becoming an important crux of Amazon's business is digital advertising.</p><p><blockquote>亚马逊已经能够将其云业务的利润再投资到其他领域，因为该公司致力于将自己与其他科技巨头区分开来。一个迅速成为亚马逊业务重要症结的领域是数字广告。</blockquote></p><p>According to eMarketer, Amazon is expected to comprise 10.7% of the U.S. digital ad market in 2021 and grow to 12.8% by 2023. Although the uptick has been bolstered by increasing consumer reliance on digital shopping during the pandemic, one could argue that this theme will stick because Amazon's platform makes it more time-efficient and cost-effective for consumers to make purchases online versus going to a physical retail location.</p><p><blockquote>根据eMarketer的数据，亚马逊预计将在2021年占据美国数字广告市场的10.7%，到2023年将增长到12.8%。尽管疫情期间消费者对数字购物的依赖增加推动了这一增长，但有人可能会说，这一主题将会持续下去，因为亚马逊的平台使消费者在线购物比实体零售店购物更省时、更具成本效益。位置。</blockquote></p><p>The boom on the digital ad side of its business could serve as another lucrative catalyst for the company as it gains market share from Google and Meta Platforms. On the contrary, eMarketer predicts that Google's digital ad business in the U.S. is expected to decrease from 28.9% in 2020 to 26.6% in 2023.</p><p><blockquote>随着该公司从谷歌和Meta Platforms手中获得市场份额，其数字广告业务的繁荣可能成为该公司的另一个利润丰厚的催化剂。相反，eMarketer预测，谷歌在美国的数字广告业务预计将从2020年的28.9%下降至2023年的26.6%。</blockquote></p><p></p><p>Amazon is well-positioned to benefit from enterprise investment in digital transformation. As the company gains market share over its competition, AWS's capital efficient margin profile will continue fueling additional growth drivers as the company looks to enter new industries.</p><p><blockquote>亚马逊处于有利地位，可以从企业对数字化转型的投资中受益。随着该公司在竞争中获得市场份额，随着该公司寻求进入新行业，AWS的资本高效利润率将继续推动额外的增长动力。</blockquote></p><p><b>Prime Membership</b></p><p><blockquote><b>Prime会员</b></blockquote></p><p>Since the pandemic, Amazon has attracted about 30 million new members to its Prime membership program each year (in 2020 and 2021), according to estimates from Consumer Intelligence Research Partners, LLC (CIRP).</p><p><blockquote>根据消费者情报研究合作伙伴有限责任公司（CIRP）的估计，自疫情以来，亚马逊每年（2020年和2021年）吸引约3000万新会员加入其Prime会员计划。</blockquote></p><p>Meanwhile, membership renewal rates continued to improve. “The renewal rate after one year hit 94%, while the rate after two years is an impressive 98%, which any other retailer or membership driven business would envy,” said CIRP’s other Partner and cofounder, Mike Levin.</p><p><blockquote>与此同时，会员续订率持续提高。CIRP的另一位合伙人兼联合创始人迈克·莱文(Mike Levin)表示：“一年后的续订率达到94%，而两年后的续订率高达98%，这是任何其他零售商或会员制企业都会羡慕的。”</blockquote></p><p>More information from the CIRP report: “As of December 2021, Amazon had 172 million US members. In each of 2020 and 2021, Amazon Prime added about 30 million members in the US. We attribute much of this increase to significantly greater online shopping during the COVID-19 pandemic. This served to accelerate Prime membership growth from slower rates in the previous few years.”</p><p><blockquote>CIRP报告中的更多信息：“截至2021年12月，亚马逊拥有1.72亿美国会员。在2020年和2021年，亚马逊Prime在美国增加了约3000万会员。我们将这一增长主要归因于新冠肺炎疫情期间在线购物的大幅增加。这加速了Prime会员的增长，而前几年增速较慢。”</blockquote></p><p><b>Analysts see upside for the stock in 2022</b></p><p><blockquote><b>分析师认为该股2022年有上涨空间</b></blockquote></p><p>Earlier this year, BofA analyst Justin Post named Amazon his favorite FAANG stock for 2022, seeing a positive outlook on e-commerce for the next three to five years and growth in Amazon Web Services cloud business.</p><p><blockquote>今年早些时候，美国银行分析师贾斯汀·波斯特(Justin Post)将亚马逊评为2022年他最喜欢的FAANG股票，认为未来三到五年电子商务前景乐观，亚马逊网络服务云业务也会增长。</blockquote></p><p>The stock has zero Sell ratings, three Holds, and 50 Buys or Overweights, according to analysts surveyed by FactSet.</p><p><blockquote>据FactSet调查的分析师称，该股的卖出评级为零，3个评级为持有，50个评级为买入或增持。</blockquote></p><p>“Though our estimates come down, we believe lower expectations should help de-risk shares and AMZN will become a cleaner story to own through 2022,” J.P. Morgan analyst Doug Anmuth wrote in a research note.</p><p><blockquote>摩根大通分析师道格·安穆斯(Doug Anmuth)在一份研究报告中写道：“尽管我们的预期有所下降，但我们相信较低的预期应该有助于降低股票风险，到2022年，亚马逊将成为一个更干净的持有故事。”</blockquote></p><p>Although Amazon performed well amid a challenging holiday season, Anmuth lowered his first-quarter revenue estimate to $120.5 billion, and trimmed his yearly earnings per share guidance to $75.17, down from $79.47 due to elevated labor, operational, and inflationary costs.</p><p><blockquote>尽管亚马逊在充满挑战的假期中表现良好，但由于劳动力、运营和通胀成本上升，Anmuth将第一季度营收预期下调至1205亿美元，并将年度每股收益指引从79.47美元下调至75.17美元。</blockquote></p><p>Despite the near-term headwinds, Amazon remains J.P. Morgan’s overall top pick, with Anmuth reiterating his Overweight rating and $4,350 price target.</p><p><blockquote>尽管近期面临不利因素，但亚马逊仍是摩根大通的总体首选，Anmuth重申了他的跑赢大盘评级和4,350美元的目标价。</blockquote></p><p>Revenue should begin to accelerate in the second quarter as costs ease back. Further gains could come as Amazon boosts sales in the grocery, apparel, accessories, and the furniture and appliances sectors, all while selectively increasing prices. Already, the company has raised fulfillment fees by 5%, a move that could add an additional $3 billion in 2022. Anmuth believes Amazon could also hike its Prime membership fees sometime this year.</p><p><blockquote>随着成本回落，收入应该会在第二季度开始加速增长。随着亚马逊提高杂货、服装、配饰、家具和电器行业的销售，同时选择性地提高价格，可能会进一步上涨。该公司已经将履行费用提高了5%，此举可能会在2022年额外增加30亿美元。Anmuth认为亚马逊也可能在今年某个时候提高Prime会员费。</blockquote></p><p>Amazon also has doubled its fulfillment network and increased its warehouse capacity. Now that the company is no longer space-constrained, it is free to meet elevated demand and invest heavily in marketing, Anmuth said.</p><p><blockquote>亚马逊还将其配送网络扩大了一倍，并增加了仓库容量。安穆斯说，现在该公司不再受到空间限制，可以自由地满足更高的需求，并在营销方面进行大量投资。</blockquote></p><p>Amazon had a tough 2021, gaining just 4% for the year while the S&P 500 rallied 30% —but analysts see upside for the stock in 2022.</p><p><blockquote>亚马逊经历了艰难的2021年，全年仅上涨4%，而标普500则上涨30%，但分析师认为该股2022年还有上涨空间。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Amazon Earnings Preview: What to Watch on Feb. 3<blockquote>亚马逊财报预览：2月3日看点</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmazon Earnings Preview: What to Watch on Feb. 3<blockquote>亚马逊财报预览：2月3日看点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2022-01-25 16:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Amazon is slated to report its fourth-quarter and full-year 2021 results after the market close on Thursday, Feb. 3. An analyst conference call is scheduled for the same day at 5:30 p.m. ET.</p><p><blockquote><html><head></head><body>亚马逊定于2月3日星期四收盘后公布2021年第四季度和全年业绩。分析师电话会议定于当天下午5:30举行。ET。</body></html></blockquote></p><p>The period to be reported on is the second quarter that Andy Jassy has been CEO of the e-commerce and technology giant.</p><p><blockquote>本报告期是安迪·贾西(Andy Jassy)担任这家电子商务和科技巨头首席执行官的第二个季度。</blockquote></p><p>Investors will probably be approaching Amazon's report with some apprehension. Last quarter, the company missed Wall Street's expectations for both revenue and earnings, with the bottom-line miss a sizable one. That was the second consecutive quarter that revenue fell short of the analyst consensus estimate.</p><p><blockquote>投资者可能会对亚马逊的报告有些担忧。上个季度，该公司的收入和盈利均未达到华尔街的预期，净利润大幅低于预期。这是收入连续第二个季度低于分析师普遍预期。</blockquote></p><p>Here's what to watch in Amazon's upcoming report.</p><p><blockquote>以下是亚马逊即将发布的报告中值得关注的内容。</blockquote></p><p><b>Amazon's key quarterly numbers</b></p><p><blockquote><b>亚马逊的关键季度数据</b></blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a737a5a74be82f69eff8adbcb7d04ac9\" tg-width=\"554\" tg-height=\"160\" width=\"100%\" height=\"auto\"/><span>DATA SOURCES: AMAZON.COM AND YAHOO! FINANCE. NOTE: AMAZON DOES NOT PROVIDE EARNINGS GUIDANCE.</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：亚马逊和雅虎！金融。注：亚马逊不提供盈利指引。</span></p></blockquote></p><p>While Amazon doesn't provide guidance for earnings, it does so for operating income. Management expects fourth-quarter operating income to range from $0 to $3 billion, compared with $6.9 billion in the year-ago period. This guidance range represents operating income declining by about 100% to 57% year over year.</p><p><blockquote>虽然亚马逊不提供盈利指引，但它提供了营业收入指引。管理层预计第四季度营业收入为0至30亿美元，去年同期为69亿美元。这一指导范围意味着营业收入同比下降约100%至57%。</blockquote></p><p>The world's e-commerce leader faced tough year-over-year comparables in the fourth quarter. In the year-ago period, revenue surged 44% and earnings per share soared 118% year over year. The fourth quarter of 2020 was particularly strong for two main reasons. First, the pandemic was raging and vaccines had only begun to roll out at the very tail end of the quarter/year. Second, Amazon held its annual Prime Day event in the fourth quarter of 2020 (October), whereas in 2021, this event took place in the second quarter (June).</p><p><blockquote>这家全球电子商务领导者在第四季度面临着严峻的同比业绩。去年同期，收入同比飙升44%，每股收益同比飙升118%。2020年第四季度特别强劲，主要有两个原因。首先，疫情肆虐，疫苗在本季度末才开始推出。其次，亚马逊在2020年第四季度（10月）举办了年度Prime Day活动，而在2021年，该活动在第二季度（6月）举行。</blockquote></p><p>In last quarter's earnings release, Jassy provided another reason -- increased costs -- that the company's bottom-line results are expected to decline significantly from the year-ago period:</p><p><blockquote>在上季度的财报中，贾西提供了另一个原因——成本增加——该公司的净利润预计将较去年同期大幅下降：</blockquote></p><p>In the fourth quarter, we expect to incur several billion dollars of additional costs in our consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs -- all while doing whatever it takes to minimize the impact on customers and selling partners this holiday season. It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.</p><p><blockquote>在第四季度，我们预计消费者业务将产生数十亿美元的额外成本，因为我们要应对劳动力供应短缺、工资成本增加、全球供应链问题以及运费和运输成本增加，同时尽一切努力将这个假期对客户和销售合作伙伴的影响降至最低。短期内这对我们来说会很昂贵，但对我们的客户和合作伙伴来说，这是正确的优先顺序。</blockquote></p><p>For context, in the third quarter, Amazon's revenue increased 15% year over year to $110.8 billion, missing the $111.6 billion the Street had expected, but coming in close to the high end of its guidance range of $106 billion to $112 billion. By segment, sales in North America, international, and Amazon Web Services rose 10%, 16%, and 39%, respectively. EPS dropped 51% to $6.12. That result fell considerably short of the analyst consensus estimate of $8.92.</p><p><blockquote>就背景而言，第三季度亚马逊营收同比增长15%至1108亿美元，低于华尔街预期的1116亿美元，但接近1060亿至1120亿美元指导范围的上限。按细分市场划分，北美、国际和亚马逊网络服务的销售额分别增长了10%、16%和39%。每股收益下降51%至6.12美元。这一结果远低于分析师普遍预期的8.92美元。</blockquote></p><p><b>AWS</b></p><p><blockquote><b>AWS</b></blockquote></p><p>Through the first nine months of 2021, Amazon's cloud segment, Amazon Web Services (AWS), generated $44.4 billion of revenue while operating at a 30% margin. For one point of comparison, Google Cloud contributed $13.7 billion of revenue for the first nine months of 2021 and is unprofitable, as it reported a loss of $2.2 billion.</p><p><blockquote>2021年前9个月，亚马逊的云部门亚马逊网络服务(AWS)创造了444亿美元的收入，同时运营利润率为30%。相比之下，谷歌云在2021年前9个月贡献了137亿美元的收入，但尚未盈利，因为它报告亏损22亿美元。</blockquote></p><p>What's even more staggering is the pace of AWS's growth. During Q3 2021, AWS generated $16.1 billion of revenue, which represented 39% year-over-year growth. Investors can see that the quarterly operating income of $4.9 billion for the AWS segment was more than Amazon's entire business combined. Amazon Web Services is arguably becoming the most important pillar of the company's ecosystem.</p><p><blockquote>更令人震惊的是AWS的增长速度。2021年第三季度，AWS创造了161亿美元的收入，同比增长39%。投资者可以看到，AWS部门的季度营业收入为49亿美元，超过了亚马逊整个业务的总和。亚马逊网络服务可以说正在成为该公司生态系统最重要的支柱。</blockquote></p><p><b>Digital advertising</b></p><p><blockquote><b>数字广告</b></blockquote></p><p>Amazon has been able to reinvest the profits from its cloud business into other segments, as the company works to differentiate itself from other technology behemoths. One area that is quickly becoming an important crux of Amazon's business is digital advertising.</p><p><blockquote>亚马逊已经能够将其云业务的利润再投资到其他领域，因为该公司致力于将自己与其他科技巨头区分开来。一个迅速成为亚马逊业务重要症结的领域是数字广告。</blockquote></p><p>According to eMarketer, Amazon is expected to comprise 10.7% of the U.S. digital ad market in 2021 and grow to 12.8% by 2023. Although the uptick has been bolstered by increasing consumer reliance on digital shopping during the pandemic, one could argue that this theme will stick because Amazon's platform makes it more time-efficient and cost-effective for consumers to make purchases online versus going to a physical retail location.</p><p><blockquote>根据eMarketer的数据，亚马逊预计将在2021年占据美国数字广告市场的10.7%，到2023年将增长到12.8%。尽管疫情期间消费者对数字购物的依赖增加推动了这一增长，但有人可能会说，这一主题将会持续下去，因为亚马逊的平台使消费者在线购物比实体零售店购物更省时、更具成本效益。位置。</blockquote></p><p>The boom on the digital ad side of its business could serve as another lucrative catalyst for the company as it gains market share from Google and Meta Platforms. On the contrary, eMarketer predicts that Google's digital ad business in the U.S. is expected to decrease from 28.9% in 2020 to 26.6% in 2023.</p><p><blockquote>随着该公司从谷歌和Meta Platforms手中获得市场份额，其数字广告业务的繁荣可能成为该公司的另一个利润丰厚的催化剂。相反，eMarketer预测，谷歌在美国的数字广告业务预计将从2020年的28.9%下降至2023年的26.6%。</blockquote></p><p></p><p>Amazon is well-positioned to benefit from enterprise investment in digital transformation. As the company gains market share over its competition, AWS's capital efficient margin profile will continue fueling additional growth drivers as the company looks to enter new industries.</p><p><blockquote>亚马逊处于有利地位，可以从企业对数字化转型的投资中受益。随着该公司在竞争中获得市场份额，随着该公司寻求进入新行业，AWS的资本高效利润率将继续推动额外的增长动力。</blockquote></p><p><b>Prime Membership</b></p><p><blockquote><b>Prime会员</b></blockquote></p><p>Since the pandemic, Amazon has attracted about 30 million new members to its Prime membership program each year (in 2020 and 2021), according to estimates from Consumer Intelligence Research Partners, LLC (CIRP).</p><p><blockquote>根据消费者情报研究合作伙伴有限责任公司（CIRP）的估计，自疫情以来，亚马逊每年（2020年和2021年）吸引约3000万新会员加入其Prime会员计划。</blockquote></p><p>Meanwhile, membership renewal rates continued to improve. “The renewal rate after one year hit 94%, while the rate after two years is an impressive 98%, which any other retailer or membership driven business would envy,” said CIRP’s other Partner and cofounder, Mike Levin.</p><p><blockquote>与此同时，会员续订率持续提高。CIRP的另一位合伙人兼联合创始人迈克·莱文(Mike Levin)表示：“一年后的续订率达到94%，而两年后的续订率高达98%，这是任何其他零售商或会员制企业都会羡慕的。”</blockquote></p><p>More information from the CIRP report: “As of December 2021, Amazon had 172 million US members. In each of 2020 and 2021, Amazon Prime added about 30 million members in the US. We attribute much of this increase to significantly greater online shopping during the COVID-19 pandemic. This served to accelerate Prime membership growth from slower rates in the previous few years.”</p><p><blockquote>CIRP报告中的更多信息：“截至2021年12月，亚马逊拥有1.72亿美国会员。在2020年和2021年，亚马逊Prime在美国增加了约3000万会员。我们将这一增长主要归因于新冠肺炎疫情期间在线购物的大幅增加。这加速了Prime会员的增长，而前几年增速较慢。”</blockquote></p><p><b>Analysts see upside for the stock in 2022</b></p><p><blockquote><b>分析师认为该股2022年有上涨空间</b></blockquote></p><p>Earlier this year, BofA analyst Justin Post named Amazon his favorite FAANG stock for 2022, seeing a positive outlook on e-commerce for the next three to five years and growth in Amazon Web Services cloud business.</p><p><blockquote>今年早些时候，美国银行分析师贾斯汀·波斯特(Justin Post)将亚马逊评为2022年他最喜欢的FAANG股票，认为未来三到五年电子商务前景乐观，亚马逊网络服务云业务也会增长。</blockquote></p><p>The stock has zero Sell ratings, three Holds, and 50 Buys or Overweights, according to analysts surveyed by FactSet.</p><p><blockquote>据FactSet调查的分析师称，该股的卖出评级为零，3个评级为持有，50个评级为买入或增持。</blockquote></p><p>“Though our estimates come down, we believe lower expectations should help de-risk shares and AMZN will become a cleaner story to own through 2022,” J.P. Morgan analyst Doug Anmuth wrote in a research note.</p><p><blockquote>摩根大通分析师道格·安穆斯(Doug Anmuth)在一份研究报告中写道：“尽管我们的预期有所下降，但我们相信较低的预期应该有助于降低股票风险，到2022年，亚马逊将成为一个更干净的持有故事。”</blockquote></p><p>Although Amazon performed well amid a challenging holiday season, Anmuth lowered his first-quarter revenue estimate to $120.5 billion, and trimmed his yearly earnings per share guidance to $75.17, down from $79.47 due to elevated labor, operational, and inflationary costs.</p><p><blockquote>尽管亚马逊在充满挑战的假期中表现良好，但由于劳动力、运营和通胀成本上升，Anmuth将第一季度营收预期下调至1205亿美元，并将年度每股收益指引从79.47美元下调至75.17美元。</blockquote></p><p>Despite the near-term headwinds, Amazon remains J.P. Morgan’s overall top pick, with Anmuth reiterating his Overweight rating and $4,350 price target.</p><p><blockquote>尽管近期面临不利因素，但亚马逊仍是摩根大通的总体首选，Anmuth重申了他的跑赢大盘评级和4,350美元的目标价。</blockquote></p><p>Revenue should begin to accelerate in the second quarter as costs ease back. Further gains could come as Amazon boosts sales in the grocery, apparel, accessories, and the furniture and appliances sectors, all while selectively increasing prices. Already, the company has raised fulfillment fees by 5%, a move that could add an additional $3 billion in 2022. Anmuth believes Amazon could also hike its Prime membership fees sometime this year.</p><p><blockquote>随着成本回落，收入应该会在第二季度开始加速增长。随着亚马逊提高杂货、服装、配饰、家具和电器行业的销售，同时选择性地提高价格，可能会进一步上涨。该公司已经将履行费用提高了5%，此举可能会在2022年额外增加30亿美元。Anmuth认为亚马逊也可能在今年某个时候提高Prime会员费。</blockquote></p><p>Amazon also has doubled its fulfillment network and increased its warehouse capacity. Now that the company is no longer space-constrained, it is free to meet elevated demand and invest heavily in marketing, Anmuth said.</p><p><blockquote>亚马逊还将其配送网络扩大了一倍，并增加了仓库容量。安穆斯说，现在该公司不再受到空间限制，可以自由地满足更高的需求，并在营销方面进行大量投资。</blockquote></p><p>Amazon had a tough 2021, gaining just 4% for the year while the S&P 500 rallied 30% —but analysts see upside for the stock in 2022.</p><p><blockquote>亚马逊经历了艰难的2021年，全年仅上涨4%，而标普500则上涨30%，但分析师认为该股2022年还有上涨空间。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1182956358","content_text":"Amazon is slated to report its fourth-quarter and full-year 2021 results after the market close on Thursday, Feb. 3. An analyst conference call is scheduled for the same day at 5:30 p.m. ET.The period to be reported on is the second quarter that Andy Jassy has been CEO of the e-commerce and technology giant.Investors will probably be approaching Amazon's report with some apprehension. Last quarter, the company missed Wall Street's expectations for both revenue and earnings, with the bottom-line miss a sizable one. That was the second consecutive quarter that revenue fell short of the analyst consensus estimate.Here's what to watch in Amazon's upcoming report.Amazon's key quarterly numbersDATA SOURCES: AMAZON.COM AND YAHOO! FINANCE. NOTE: AMAZON DOES NOT PROVIDE EARNINGS GUIDANCE.While Amazon doesn't provide guidance for earnings, it does so for operating income. Management expects fourth-quarter operating income to range from $0 to $3 billion, compared with $6.9 billion in the year-ago period. This guidance range represents operating income declining by about 100% to 57% year over year.The world's e-commerce leader faced tough year-over-year comparables in the fourth quarter. In the year-ago period, revenue surged 44% and earnings per share soared 118% year over year. The fourth quarter of 2020 was particularly strong for two main reasons. First, the pandemic was raging and vaccines had only begun to roll out at the very tail end of the quarter/year. Second, Amazon held its annual Prime Day event in the fourth quarter of 2020 (October), whereas in 2021, this event took place in the second quarter (June).In last quarter's earnings release, Jassy provided another reason -- increased costs -- that the company's bottom-line results are expected to decline significantly from the year-ago period:In the fourth quarter, we expect to incur several billion dollars of additional costs in our consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs -- all while doing whatever it takes to minimize the impact on customers and selling partners this holiday season. It'll be expensive for us in the short term, but it's the right prioritization for our customers and partners.For context, in the third quarter, Amazon's revenue increased 15% year over year to $110.8 billion, missing the $111.6 billion the Street had expected, but coming in close to the high end of its guidance range of $106 billion to $112 billion. By segment, sales in North America, international, and Amazon Web Services rose 10%, 16%, and 39%, respectively. EPS dropped 51% to $6.12. That result fell considerably short of the analyst consensus estimate of $8.92.AWSThrough the first nine months of 2021, Amazon's cloud segment, Amazon Web Services (AWS), generated $44.4 billion of revenue while operating at a 30% margin. For one point of comparison, Google Cloud contributed $13.7 billion of revenue for the first nine months of 2021 and is unprofitable, as it reported a loss of $2.2 billion.What's even more staggering is the pace of AWS's growth. During Q3 2021, AWS generated $16.1 billion of revenue, which represented 39% year-over-year growth. Investors can see that the quarterly operating income of $4.9 billion for the AWS segment was more than Amazon's entire business combined. Amazon Web Services is arguably becoming the most important pillar of the company's ecosystem.Digital advertisingAmazon has been able to reinvest the profits from its cloud business into other segments, as the company works to differentiate itself from other technology behemoths. One area that is quickly becoming an important crux of Amazon's business is digital advertising.According to eMarketer, Amazon is expected to comprise 10.7% of the U.S. digital ad market in 2021 and grow to 12.8% by 2023. Although the uptick has been bolstered by increasing consumer reliance on digital shopping during the pandemic, one could argue that this theme will stick because Amazon's platform makes it more time-efficient and cost-effective for consumers to make purchases online versus going to a physical retail location.The boom on the digital ad side of its business could serve as another lucrative catalyst for the company as it gains market share from Google and Meta Platforms. On the contrary, eMarketer predicts that Google's digital ad business in the U.S. is expected to decrease from 28.9% in 2020 to 26.6% in 2023.Amazon is well-positioned to benefit from enterprise investment in digital transformation. As the company gains market share over its competition, AWS's capital efficient margin profile will continue fueling additional growth drivers as the company looks to enter new industries.Prime MembershipSince the pandemic, Amazon has attracted about 30 million new members to its Prime membership program each year (in 2020 and 2021), according to estimates from Consumer Intelligence Research Partners, LLC (CIRP).Meanwhile, membership renewal rates continued to improve. “The renewal rate after one year hit 94%, while the rate after two years is an impressive 98%, which any other retailer or membership driven business would envy,” said CIRP’s other Partner and cofounder, Mike Levin.More information from the CIRP report: “As of December 2021, Amazon had 172 million US members. In each of 2020 and 2021, Amazon Prime added about 30 million members in the US. We attribute much of this increase to significantly greater online shopping during the COVID-19 pandemic. This served to accelerate Prime membership growth from slower rates in the previous few years.”Analysts see upside for the stock in 2022Earlier this year, BofA analyst Justin Post named Amazon his favorite FAANG stock for 2022, seeing a positive outlook on e-commerce for the next three to five years and growth in Amazon Web Services cloud business.The stock has zero Sell ratings, three Holds, and 50 Buys or Overweights, according to analysts surveyed by FactSet.“Though our estimates come down, we believe lower expectations should help de-risk shares and AMZN will become a cleaner story to own through 2022,” J.P. Morgan analyst Doug Anmuth wrote in a research note.Although Amazon performed well amid a challenging holiday season, Anmuth lowered his first-quarter revenue estimate to $120.5 billion, and trimmed his yearly earnings per share guidance to $75.17, down from $79.47 due to elevated labor, operational, and inflationary costs.Despite the near-term headwinds, Amazon remains J.P. Morgan’s overall top pick, with Anmuth reiterating his Overweight rating and $4,350 price target.Revenue should begin to accelerate in the second quarter as costs ease back. Further gains could come as Amazon boosts sales in the grocery, apparel, accessories, and the furniture and appliances sectors, all while selectively increasing prices. Already, the company has raised fulfillment fees by 5%, a move that could add an additional $3 billion in 2022. Anmuth believes Amazon could also hike its Prime membership fees sometime this year.Amazon also has doubled its fulfillment network and increased its warehouse capacity. Now that the company is no longer space-constrained, it is free to meet elevated demand and invest heavily in marketing, Anmuth said.Amazon had a tough 2021, gaining just 4% for the year while the S&P 500 rallied 30% —but analysts see upside for the stock in 2022.","news_type":1,"symbols_score_info":{"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":2105,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/639079382"}
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