Amazon Falling After Earnings Report (AMZN)
Amazon released its third-quarter earnings results on Thursday after the closing bell. The company reported net income of $231 million, or $0.51 per share, compared to $199 million, or $0.45 per share, in the year ago period. This came in ahead of analysts' consensus estimates of $0.48.
Net sales were up 39% to $7.56 billion in Q3 versus $5.45 billion in last year's third quarter. This also beat Wall Street estimates which were set at $7.35 billion.
Looking ahead to Q4, the company's management sees net sales between $12 billion and $13.3 billion. This compares with analysts' Q4 estimates of $12.3 billion.
In the after hours trading session, AMZN shares have fallen 3.79% to $158.72.
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