Reported 2 months ago
Amazon's stock fell over 8% following a disappointing quarterly forecast that missed expectations for both sales and operating income. Despite generating revenue of $148 billion and earnings per share of $1.26, both figures were below analysts' projections. The company's cloud division, Amazon Web Services, performed better than anticipated, generating $26.3 billion in revenue. Despite this, concerns over consumer spending and increased competition have left investors cautious.
Source: YAHOO