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.
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