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Why Amazon Stock Plunged Today

TheMotleyFool

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Why Amazon Stock Plunged Today: https://g.foolcdn.com/editorial/images/719406/stock-market-down-gettyimages-873873202.jpg

Shares of Amazon.com (NASDAQ: AMZN) fell 8.4% on Friday after the online retail colossus warned of a downturn in its most profitable business.

Amazon's net sales grew by 9% year over year to $149.2 billion in the fourth quarter. Gains in the e-commerce giant's North American segment more than offset declines in its international operations.

Yet growth in the company's key Amazon Web Services (AWS) business slowed markedly. AWS's revenue rose 20% to $21.4 billion. That's down from 27% growth in the third quarter and 40% in the year-ago period.

Source Fool.com

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