Reported 2 months ago
Amazon's stock fell 4% following the announcement of its third-quarter sales guidance, which failed to meet analysts' expectations. The company projected sales between $154 billion and $158.5 billion, while analysts had predicted $158.43 billion. Other metrics include adjusted earnings per share of $1.26 versus the expected $1.04, and total revenue of $148 billion compared to $148.8 billion forecasted. This report comes amidst wider scrutiny of Big Tech's spending on AI, especially after mixed results from competitors.
Source: YAHOO