Increasing scrutiny could stall rise of ecommerce platforms, as TikTok faces US ban
The Loadstar has launched a series of reports on the ecommerce sector, which has been driving growth ...
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CNBC reports:
Amazon shares dropped more than 4.3% in extended trading on Thursday after the company reported weaker-than-expected results for the third quarter and delivered disappointing guidance for the critical holiday period.
– Earnings: $6.12 vs $8.92 per share expected, according to analysts surveyed by Refinitiv
– Revenue: $110.81 billion vs $111.6 billion expected, according to analysts surveyed by Refinitiv
For the fourth quarter, Amazon forecast sales between $130 billion and $140 billion, representing growth between 4% and 12%. Analysts surveyed by FactSet were expecting revenue to rise 13.2% year-over-year to $142.1 billion…
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Meanwhile, Seeking Alpha reports: “Amazon falls after warning on billions in extra costs in holiday quarter” (free reg. is required).
Early reaction: stock down 4.7% to $3,287 in after-hour trade.
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