Amazon’s third-quarter earnings dropped down as compared with the street expectations the lead its stocks down as by around 9% in a row post hours’ trading on Thursday.
Apart from this, it gave somber revenue guidance regarding the season of holiday shopping, spooked all the investors who were expecting a good pay from Amazon’s consistently growing investments. The company’s earnings per share were reported to be $4.23 as compared to its street expectations of $4.62. However, there is a jump of 24% to $70 billion for the quarter which was expected to be $68.8 billion. Amazon spent around $800 million in each of its last two quarters for the expansion of its free one -day shipping services and is expecting to spend another $1.5 billion in the same initiative. Additionally, Amazon’s Web Services or AWS dipped minorly to $9 billion as compared to $9.1 billion.