Amazon.com, Inc. AMZN shares fell more than 7 percent after a weak Q3 earnings report, despite slight beating revenue estimates. Sales were up an impressive 29 percent in the quarter.
- Amazon reports Q3 EPS $0.52 missing analyst estimates by $0.26
- Revenues came in at $32.7 billion, beating by $10 million
- Net sales increased 29 percent year-over-year
- Q4 revenues are expected to be in the $42-45.5 billion range
- Operating income is expected to be between $0 and $1.25 billion, compared with $1.1 billion in fourth quarter 2015
"Alexa may be Amazon's most loved invention yet — literally — with over 250,000 marriage proposals from customers and counting," said CEO Jeff Bezo. "And she's just getting better. Because Alexa's brain is in the cloud, we can easily and continuously add to her capabilities and make her more useful — wait until you see some of the surprises the team is working on now."
Shares traded recently at $770, down 5.9 percent in the after-hours session.
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