Amazon Shares Tumble After Company Misses Earnings Expectations

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Amazon’s latest quarterly earnings report was a mixed bag. The company posted revenue of $33 billion, up 29%, as expected. But earnings were a lot lower than forecast by analysts, which sent the stock down in afterhours trading.

Still, Amazon has now been profitable for six quarters in a row, and it’s never been a company that cared for profit, often choosing to reinvest excess income into growth opportunities. The company expects to generate up to $45 billion during the next quarter, boosted by shopping season.

Valued at $380 billion, Amazon is among the largest technology companies in North America. The company has 270,000 employees worldwide, 86,000 of which have been hired in the last year.

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