viewAmazon.com, Inc.

Amazon.com reports miss on 3Q revenue as shares tumble

Amazon now has reached $10 billion in annual sales serving customers in up to eight countries

Amazon boxes.
Amazon is world's largest retailer.

Retail behemoth Amazon.com Inc (NASDAQ:AMZN) reported on Thursday a miss in third quarter revenue, causing shares to tumble in afterhours trade.

The company reported third quarter sales at $56.6 billion, below the consensus estimate of $57.1 billion, but above the year-ago level of $43.74 billion.

Net income reached $2.9 billion with EPS at $5.75, compared with expectations it would hit $3.14 and the year-ago mark of $0.52.

Shares of Amazon fell 5% to $1,692.25 in afterhours trade, having closed on Thursday up 7.09% to $1,782.17.

READ: Amazon launches biggest lineup of new devices as Alexa invades every corner of your house

"Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries,” said Jeff Bezos, Amazon founder and CEO. 

Among the company's highlights for the quarter are the introduction by Amazon of a new family of Echo devices and the all-new Fire HD 8 tablet among others.

Amazon expanded grocery delivery from Whole Foods Market through Prime Now.

Reporting by Rene Pastor, contactable on [email protected]

Quick facts: Amazon.com, Inc.

Price: 3176.4 USD

Market: NASDAQ
Market Cap: $1.59 trillion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


4D pharma plc merges with SPAC company Longevity Acquisition Corp

4D pharma plc (LON:DDDD) CEO Duncan Peyton tells Proactive the group is to get a cash injection of US$14.6mln through a merger with Longevity Acquisition Corporation (NASDAQ:LOAC), a special purpose acquisition company. Peyton says the merger will accelerate and de-risk 4D's admission to...

1 hour, 8 minutes ago

2 min read