Thursday, July 26, 2012

Amazon.com, Inc.(NASDAQ:AMZN) Share Plunges 6% On Earnings Miss & so-so Outlook

Amazon.com, Inc.(NASDAQ:AMZN) turns sharply lower in after hour market activity and slumped as much as 6.50% to $205 after the company reported less than estimated second quarter earnings. Moreover, the company projected much lower than estimated revenue for the third quarter.

Get Complete Analysis on Earnings on AMZN, HERE

The company posted net income of $7 million or a penny a share, down 96% from a year ago profit of $191 million, or $0.41  a share,, missing analysts’ estimate by a penny. Revenue during the quarter came in at $12.83 billion, up 29% year over year, again missing analysts target of $12.89 billion.

For the third quarter, the company projects to generate revenue of between $12.9 billion and $14.3 billion, shy of analysts’ estimate of $14.10 billion.

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