Amazon (NASDAQ: AMZN) recently released a third-quarter report that probably disappointed many investors. The e-commerce giant's revenue and earnings missed Wall Street's expectations. Moreover, revenue guidance for the important holiday quarter came in lighter than the analyst consensus estimate.

In the third quarter, Amazon's revenue grew 15% year over year to $127.1 billion. This was a solid showing and only fell slightly short of the $127.5 billion analysts had projected. 

Net income was $2.9 billion, or $0.28 per share, compared with $0.31 per share in the year-ago period. This result included a pre-tax valuation gain of $1.1 billion in nonoperating income from Amazon's stock investment in electric vehicle (EV) maker Rivian Automotive. Excluding this gain, earnings per share would have been an estimated $0.17, lower than the consensus estimate of $0.21.

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Source Fool.com