Amazon Earnings: A Mixed Bag

Latest Tech Giant to Report Disappointing Results

Amazon, the e-commerce behemoth, has become the latest major tech company to report disappointing earnings, with its stock price falling after the bell as investors digested mixed results for the third quarter. As of 1:49 PM ET, Amazon's stock price is trading at $112.92, down 8.17% for the day.

Key Takeaways:

• Amazon's earnings per share came in at $0.28, missing estimates of $0.32.
• Revenue rose 15% year-over-year to $127.1 billion, slightly exceeding expectations of $127.0 billion.
• Amazon Web Services (AWS), the company's cloud computing division, continued to be a bright spot, with revenue increasing 27% to $20.5 billion.
• However, the company's e-commerce business faced headwinds, with operating income declining 50% to $2.5 billion.