Amazon misses on top and bottom lines, issues cautious Q4 guidance

(Sharecast News) - Online retail giant Amazon reported third quarter results that missed on both the top and bottom lines on Thursday, sending the stock falling in pre-market action.

Amazon reported earnings per share of $1.89 on $201.9bn of revenues, below consensus estimates of $1.97 and $202.25bn, respectively, compared with $1.95 and $180.16bn a year earlier.

The tech giant said its AWS unit, which now accounts for almost 23% of Amazon's revenue, delivered $45.9bn of revenues, broadly in line with forecasts, while online store sales came in at $68.47bn, short of the $69.6bn expected. Advertising revenues rose to $19.6bn.

Amazon also guided to fourth‑quarter net sales to between $240bn and $247bn, bracketing expectations of $244.5bn.

As of 1030 GMT, Amazon shares were down 7.30% in pre-market trading at $225.99 each.









Reporting by Iain Gilbert at Sharecast.com