Amazon shares hit by earnings disappointment

SAN FRANCISCO: Amazon on Thursday reported that quarterly profits fell shy of Wall Street forecasts, sending shares of the tech giant tumbling in after-market trades.

Cost of sales at Amazon leapt about 33 per cent , eating into net income, according to the earnings report. Amazon has also positioned itself for the year-end holiday shopping season with a freshened lineup of Alexa-powered products on extending from homes and cars to wearable devices, and a celebrity voice option for the popular digital assistant.

The analyst said Amazon's advertising and e-commerce operations"look very strong as investments in next-day shipping, though eating into the bottom line in the near term, are paying fast dividends on the top line."

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Amazon shares hit by earnings disappointmentAmazon on Thursday reported that quarterly profits shy of Wall Street forecasts, sending shares of the tech giant tumbling in after-market trades.
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

Amazon shares hit by earnings disappointmentAmazon on Thursday reported that quarterly profits shy of Wall Street forecasts, sending shares of the tech giant tumbling in after-market trades.
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »