Amazon holiday quarter sales forecast falls short of estimates

(Reuters) - Amazon.com Inc forecast fourth-quarter revenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players, sending its shares down 7%. The company forecast net sales in the range of $80.0 billion (£62.23 billion) to $86.5 billion for the fourth quarter.

Reuters October 25, 2019 02:08:27 IST
Amazon holiday quarter sales forecast falls short of estimates

Amazon holiday quarter sales forecast falls short of estimates

(Reuters) - Amazon.com Inc forecast fourth-quarter revenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players, sending its shares down 7%.

The company forecast net sales in the range of $80.0 billion (£62.23 billion) to $86.5 billion for the fourth quarter. Analysts were expecting revenue of $87.37 billion, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco; Editing by Saumyadeb Chakrabarty)

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