Proactive Investors - Run By Investors For Investors

Amazon.com reports miss on 3Q revenue as shares tumble

Amazon now has reached $10 billion in annual sales serving customers in up to eight countries
Amazon boxes.
Amazon is world's largest retailer.

Retail behemoth Amazon.com Inc (NASDAQ:AMZN) reported on Thursday a miss in third quarter revenue, causing shares to tumble in afterhours trade.

The company reported third quarter sales at $56.6 billion, below the consensus estimate of $57.1 billion, but above the year-ago level of $43.74 billion.

Net income reached $2.9 billion with EPS at $5.75, compared with expectations it would hit $3.14 and the year-ago mark of $0.52.

Shares of Amazon fell 5% to $1,692.25 in afterhours trade, having closed on Thursday up 7.09% to $1,782.17.

READ: Amazon launches biggest lineup of new devices as Alexa invades every corner of your house

"Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries,” said Jeff Bezos, Amazon founder and CEO. 

Among the company's highlights for the quarter are the introduction by Amazon of a new family of Echo devices and the all-new Fire HD 8 tablet among others.

Amazon expanded grocery delivery from Whole Foods Market through Prime Now.

Reporting by Rene Pastor, contactable on [email protected]

View full AMZN profile View Profile

Amazon.com Timeline

Related Articles

Drain
December 18 2018
MetroRod has been in operation for 30 years but only became a franchise relatively recently
H&T
December 03 2018
“I think customers are seeing that we do offer value and that really is the answer,” said chief executive John Nichols
Scans and MRI
November 28 2018
The firm's subsidiary, Imaging Biometrics, recently appointed a South Korean distributor a few weeks after receiving the first commercial order for its StoneChecker technology
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use