Amazon's (NASDAQ: AMZN) stock dipped after the e-commerce and cloud giant posted its third-quarter results on Oct. 28.
Its total revenue rose 15% year over year to $110.8 billion, but missed analysts' estimates by $850 million. Its net income tumbled 49% to $3.2 billion, or $6.12 per share, which also missed expectations by $2.81.
For the fourth quarter, Amazon expects its revenue to rise 4%-12% year over year, compared to analysts' forecasts for 13% growth. It expects its operating income to drop 57%-100% as higher labor costs, inflation, supply chain disruptions, and its rising digital media investments all squeeze its margins.
Source Fool.com