Jeff Bezos Andy Jassy Meta Platforms Ukraine country google Platform Jeff Bezos Andy Jassy Meta Platforms Ukraine

Amazon Shares Plummet As Muted Q3 Results Fail To Quell Wall Street Wariness Of Tech Stocks

Reading now: 213
deadline.com

Amazon shares plunged more than 20% after hours after shedding 4% during the regular trading day after the company became the latest tech giant to stumble in the third quarter.

In the period ending September 30, revenue rose 15% to $127.1 billion, while earnings came in at 28 cents per share on a diluted basis.

The profit number exceeded Wall Street analysts’ consensus estimate, but the revenue line fell slightly below expectations. Results in the Amazon Web Services division also fell short, mainly a 27% year-over-year revenue gain to $20.5 billion.

Shares in Amazon, which had a 20-for-1 split several months ago after a long runup, plunged more than 20% after hours, dipping below $90 after finishing Thursday’s main session at $110.96.

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA