Why Did Amazon (AMZN) Shares Suddenly Drop?
Author By Sophia VidaPosted on Shares of Amazon took a fall on Thursday after the retailer released its third quarter report. Shares fell about 5% in after hours trading on Thursday after the report was released.
For Q3, Amazon posted a EPS of $0.52 that came in significantly behind the expectations of $0.82 from analysts. Revenue at $32.71 billion however was in line with the estimates of $32.65 billion.
Investors still didn’t seem thrilled despite Amazon.com seeing a $252 million profit in the third quarter, which was more than three times the $79 million it reported a year ago.
For its outlook for Q4, Amazon is expecting operating income of between $0 and $1.25 billion. The company sees revenue of $42 to $45.5 billion, while estimates call for $44.6 billion.
Disclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.
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