Amazon third-quarter sales miss estimates

Amazon third-quarter sales miss estimates

(Reuters) - Amazon.com Inc's quarterly sales missed Wall Street forecasts on Thursday, sending shares of the world's biggest online retailer down by 6 percent in late trade.

Net sales rose to $56.58 billion from $43.74 billion a year earlier, but missed analyst estimates of $57.1 billion, according to Refinitiv data.

Amazon's net income rose to $2.88 billion, or $5.75 per share, in the third quarter ended Sept. 30 from $256 million, or 52 cents per share, a year earlier.

Revenue from Amazon Web Services (AWS), the company's fast-growing cloud services business, surged 45.7 percent to $6.68 billion, narrowly edging past estimates of $6.67 billion.

(Reporting by Arjun Panchadar in Bengaluru)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Oct 26, 2018 03:05 AM

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