Amazon.com, Inc.(NASDAQ:AMZN) shares slumped 9.50% in after
hours after the online retailer posted wider than estimated third quarter loss
and revenues lagged Wall Street’s estimate. Moreover, the company projected
below target revenue for the fourth quarter.
The company posted net loss of 23 cents a share on an adjust
basis, well below analysts’ target of a loss of 8 cents a share.
Revenue came in at $13.81 billion, missing analysts’
estimate of $13.92 billion. The company has revenue of $10.88 in a year ago
quarter.
The company projects to generate revenue of $20.25
bln-$22.75 bln in the fourth quarter, again missing analysts’ target of $22.85
billion.
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