Cowen Cuts Sales, Kindle Estimates Ahead of Amazon's (AMZN) Q2 Report
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26 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
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Cowen and Company's Kevin Kopelman reduced sales and shipment estimates for Amazon.com (Nasdaq: AMZN) ahead of the online retailer's second-quarter report, expected out on Monday, July 23rd after the market closes.
Kopelman said the revisions were due to a weaker euro and a stronger dollar, offset by the closing of Amazon's Kiva acquisition.
The analyst is now looking for FY12 sales of $61.07 billion, down from $62.44 billion previously, and FY13 sales of $75.64 billion, down from a prior estimate of $78.05 billion. The Street is currently expecting FY12 sales of $63.31 billion and FY13 sales of $81.4 billion.
Kopelman cut his 2012 estimate for Kindle Fire units from 14 million to 12 million and his E Ink Kindle estimate to 16.3 million units.
The Cowen analyst's earnings estimates were left unchanged.
To track all the analyst calls on shares of Amazon.com ahead of the quarterly report, visit our Analyst Ratings page.
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Kopelman said the revisions were due to a weaker euro and a stronger dollar, offset by the closing of Amazon's Kiva acquisition.
The analyst is now looking for FY12 sales of $61.07 billion, down from $62.44 billion previously, and FY13 sales of $75.64 billion, down from a prior estimate of $78.05 billion. The Street is currently expecting FY12 sales of $63.31 billion and FY13 sales of $81.4 billion.
Kopelman cut his 2012 estimate for Kindle Fire units from 14 million to 12 million and his E Ink Kindle estimate to 16.3 million units.
The Cowen analyst's earnings estimates were left unchanged.
To track all the analyst calls on shares of Amazon.com ahead of the quarterly report, visit our Analyst Ratings page.
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