Amazon E-Commerce Remains in the Red. Should Smart Investors Care?
All in all, it wasn't the quarter Amazon (NASDAQ: AMZN) shareholders were hoping for recently.
For the three months ended Sept. 30, the e-commerce giant turned $127.1 billion worth of revenue into income of $2.9 billion, or $0.28 per share. While sales were up year over year, earnings were down. Perhaps worse, the company's cloud computing arm suffered a sales slowdown that left its top line shy of expectations, and its e-commerce business continues to operate in the red.
The biggest driver of the stock's steep post-earnings sell-off, however, is guidance for the quarter now underway. Amazon is forecasting fourth-quarter revenue of between $140 billion and $148 billion versus analysts' consensus forecast of $155.1 billion.
Source Fool.com
