E-commerce is a trend that is here to stay, Sand Hill Global Advisors Chief Information Officer Brenda Vingiello said Friday on CNBC’s “Fast Money: Halftime Report.”
E-commerce still makes up a small percentage of retail sales, so there is plenty of room for growth, Vingiello told CNBC, with Amazon.com, Inc. (NASDAQ: AMZN) as a beneficiary. Vingiello also expects Amazon Web Services and advertising to continue to grow, which will add to the company’s profitability.
Vingiello said she was expecting S&P 500 earnings growth of 24% coming into the first quarter, but she believes it could end up coming in around 46%.
Amazon Earnings: Amazon reported earnings of $15.79 per share, beating the estimate of $9.54 per share, and $108.5 billion in revenue, beating the estimate of $104.46 billion. The company provided revenue guidance between $110 billion and $116 billion for the second quarter.
Related Link: Amazon Announces 200M Prime Members, AWS $54B Annual Run Rate Business
Price Action: Amazon was down 0.11% at $3,467.42 at last check Friday.
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