Amazon and Facebook — I have no financial interest in their securities — reported expectations-beating revenue and profit growth and boosted their forecasts.
Their stock prices should have exploded — after all, when these two companies blew through first quarter earnings expectations in the first quarter, their shares popped 12%.
So why did investors yawn this time? I don’t know — but it looks to me like that could be a gift to investors.
Before getting into that, let’s look at what Amazon and Facebook reported.
On July 28, Amazon beat on revenues and profits and raised guidance. Amazon reported a profit of $857 million – or $1.78 per share……read more