Amazon Shares Tumble 6% on Weaker Q3 Revenue and Broader Tech Sector Pullback
Photo: Coinpedia
Amazon stock has dipped by 6% after a rare “double miss” in its quarterly financial report and industry-wide tech retrenchment. Amazon Web Services marked 39.3% growth in net sales against a 37.8% estimate, making it the fastest growth rate in five years. Uncertainty has risen as AI spending is thinning margins and negating free cash flow, but the CEO is confident in a $184 billion annualized run rate. Amazon stock (Nasdaq: AMZN) has slid 6% in the after hours to trade at $230.39 after a rare “double miss” of Wall Street estimates.
Source: Coinpedia
