Amazon.com, Inc. AMZN shares are trading lower by 3.69% to $98.66 Tuesday morning. The stock is trading lower on downward momentum after the company last week reported worse-than-expected third-quarter sales results and issued fourth-quarter sales guidance below analyst estimates.
The stock is also trading lower amid overall market weakness as stocks fall on concerns over a tight labor market, which could impact future Fed policy.
What Happened?
Amazon reported third-quarter revenue of $127.1 billion, an increase of 15% year-over-year. The total came in shy of a Street estimate of $127. 84 billion according to data from Benzinga Pro.
The company reported earnings per share of 28 cents in the third quarter, beating a Street estimate of 22 cents per share.
Meanwhile, Amazon is guiding for fourth-quarter revenue to be in a range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion...Read More
See Also: What's Going On With Alibaba Shares
Amazon has a 52-week high of $188.11 and a 52-week low of $97.66.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
