Reported 2 months ago
Amazon's stock fell 8% in trading after an earnings report revealed lower-than-expected Q3 revenue guidance between $154 billion and $158.5 billion, compared to the analyst forecast of $158.43 billion. Although the company posted a profit of $1.26 per share, it barely missed revenue expectations of $148.8 billion, and weakness in sales amid cautious consumer spending raised concerns. Despite growth in its advertising and cloud service sectors, Amazon faces increased competition and must adapt its strategies for upcoming sales periods.
Source: YAHOO