Amazon shares fall as record profits are offset by conservative holiday forecasts

Amazon shares fall as record profits are offset by conservative holiday forecasts

6 years ago
Anonymous $oIHRkISgaL

https://techcrunch.com/2018/10/25/amazon-shares-fall-as-record-profits-are-offset-by-conservative-holiday-forecasts/

Amazon is still raking in the cash, but its slower than expected customer growth in its web services offerings and a weaker than expected sales outlook for the holiday season shook investor confidence and caused the stock to slide around 5 percent in after-hours trading.

Profits for the company continued to soar, reaching $2.9 billion, or $5.75 per share, up from $2.5 billion in the second quarter, and handily beating analysts’ estimates of $3.14 per share. Those earnings were offset by slower revenue growth at $56.6 billion versus the $57.1 billion analysts had expected.