The e-commerce giant falls after delivering disappointing forecasts for the last months of the year. Read More...
Associated Press
Amazon posts weaker-than-expected 3Q revenue, stock tumbles
Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by Amazon’s Prime Day, a major sales event for dues-paying Prime members that was pushed back to July this year from June the year before. Amazon said it expects revenue for the fourth quarter to be between $140 billion and $148 billion, growth of between 2% and 8% compared with the same time last year.
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