No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Online retail giant Amazon reported third quarter results that missed on both the top and bottom lines on Thursday, sending the stock falling in pre-market action.
Amazon reported earnings per share of $1.89 on $201.9bn of revenues, below consensus estimates of $1.97 and $202.25bn, respectively, compared with $1.95 and $180.16bn a year earlier.
The tech giant said its AWS unit, which now accounts for almost 23% of Amazon's revenue, delivered $45.9bn of revenues, broadly in line with forecasts, while online store sales came in at $68.47bn, short of the $69.6bn expected. Advertising revenues rose to $19.6bn.
Amazon also guided to fourthquarter net sales to between $240bn and $247bn, bracketing expectations of $244.5bn.
As of 1030 GMT, Amazon shares were down 7.30% in pre-market trading at $225.99 each.
Reporting by Iain Gilbert at Sharecast.com
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.