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.