Reported 2 months ago
Amazon's stock fell over 8% in pre-market trading after the company reported third-quarter sales guidance between $154 billion and $158.5 billion, which was below analysts' expectations of $158.43 billion. While Amazon exceeded earnings estimates with an EPS of $1.26, concerns over weaker overall revenue and competition in the e-commerce sector overshadowed its performance. Additionally, despite a strong showing from its cloud division, AWS, which generated $26.3 billion, the company faces increasing pressure to adjust to cautious consumer spending and stiff competition from budget retailers.
Source: YAHOO