Amazon shares are down about 6% in post market trading after the e-retailer released Q3 earnings that fell short of Wall Street expectations.
The company reported net income of $252 million, up about 219% from the period last year, on revenues of $32.71 billion, up 29%. The top line slightly beat expectations for $32.69 billion. But earnings at 52 cents a share missed analysts’ forecast for 78 cents.
Amazon told investors to expect Q4 operating income of anywhere from nothing to $1.25 billion vs last year’t $1.1 billion.
The earnings release offers few details about the developments that contributed to the earnings miss, and wide range in its Q4 projection.
CEO Jeff Bezos also didn’t directly address the numbers in a statement with the release. Instead he talked up Amazon’s Alexa home assistant, which he called the company’s “most loved invention yet.” He also urged investors to “wait until you see some of the surprises the team is working on now.”
