Amazon shares hit by earnings disappointment

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

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

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."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

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.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »