Amazon Shares Drop 6% After Q3 Revenue Misses Estimates
· Business · CNBC, TechCrunch
Amazon shares fell 6% in extended trading on Thursday after the company reported third-quarter financial results that missed analyst expectations. The e-commerce giant posted revenue of $201.94 billion, falling short of the $202.31 billion forecast by analysts polled by LSEG. Earnings per share reached $1.89, below the anticipated $1.96. While Amazon Web Services revenue exceeded expectations at $45.98 billion, advertising revenue came in at $19.64 billion, trailing the projected $20.82 billion. The company has not provided further details regarding the specific factors contributing to these results.
Why it matters
The earnings miss signals potential cooling in consumer spending and advertising demand, impacting investor sentiment toward major US tech stocks. This performance serves as a key indicator for the broader retail and cloud computing sectors.
Read the original report — CNBC
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