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Amazon shares fall 9% despite record $2.9 billion profit

26 Oct, 2018

Amazon shares fall 9% despite record $2.9 billion profit

Shares of Amazon fell over 9% in extended trading on Thursday despite the company posting a record $2.9 billion profit for the July-September quarter. This is the fourth straight quarter that the e-commerce and cloud computing giant has topped $1 billion in profit. However, Amazon projected smaller than expected sales in the current quarter, which includes the holiday season.

Trivia :

Amazon, is an American electronic commerce and cloud computing company based in Seattle, Washington, that was founded by Jeff Bezos on July 5, 1994.

Amazon.com is the world's third-largest information technology company by revenue.

Amazon shares fall 9% despite record $2.9 billion profit< Business News

Business News Seattle Washington

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