Amazon shares tumble after third-quarter outlook disappoints
Publishing timestamp: 2024-08-02 14:24:14
Summary
Amazon shares fell after revenue miss and weak guidance for second quarter, but analysts are encouraged by strength in cloud unit. Revenue rose 10% from last year, but fell short of expectations. Consumers trading down to lower-ticket items and distracted by news cycle were cited as reasons for softer sales. Analysts are optimistic about Amazon's cloud computing segment.
Sentiment: MIXED
Tickers: AMZN,
Keywords: internet, technology, business news, breaking news: technology, earnings, amazon.com inc,