Amazon.com, Inc AMZN chair jeff bezos expected stormy weather in the Business and wants to “seal the hatches”.
What happened: Bezos, who founded the e-commerce giant back in 1994, tweeted an interview with CNBC Goldman Sachs Group Inc GS chairman David Solomon On Wednesday.
Bezos reiterated Solomon’s warning on the economy. He said, “The odds in this economy are telling you to shut the hatches.”
Yes, the odds in this economy are telling you to shut the hatches. https://t.co/SwldRdms5v
— Jeff Bezos (@JeffBezos) October 18, 2022
Solomon can be heard saying in the video, “I think it’s time to be careful, and I think if you’re running a risk-based business, it’s time to think more carefully… about your risk tolerance.”
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Why it matters: Goldman Sachs released its third-quarter results on Tuesday. The global investment banking company exceed estimated earnings by 7%which reports earnings per share of $8.25 compared to a Street estimate of $7.71.
This week Goldman Sachs said it was exiting its consumer business and announced a merger of its retail and investment banking divisions. reported Reuters.
Amazon is expected to report its third-quarter earnings next Thursday, with Wall Street estimates of earnings per share at $0.22 Benzinga data.
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