Amazon Misses Earnings Expectations
STEVE INSKEEP, HOST:
NPR's business news starts with Amazon's surprise.
Not such a good surprise for the seller of books and just about everything else online. Amazon.com announced its latest quarterly results, missing expectations and warning it could lose money in the current quarter – the one we're in now. Now revenue at the company was up 35 percent to more than $17 billion – which sounds good on the surface, but analysts were expecting at least a billion dollars more. And the stock was punished as a result.
In after hours trading last night, Amazon shares fell nine percent.
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