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Amazon stock plunges after company issues disappointing revenue forecast
Yahoo Finance
Amazon stock plunges after company issues disappointing revenue forecast
Alexandra Semenova · Reporter
Thu, April 28, 2022, 3:27 PM
Shares of Amazon (AMZN) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive.
Amazon was the last of Big Tech names to unveil quarterly earnings this reporting season. The tech behemoth’s cloud-computing platform Amazon Web Services (AWS) was a bright spot during a lackluster quarter, but revenue failed to offset weakness in the company's core retail business.
Amazon's stock lost nearly 10% in post-market trading as investors weighed the results.
{snip}
Amazon stock plunges after company issues disappointing revenue forecast
Alexandra Semenova · Reporter
Thu, April 28, 2022, 3:27 PM
Shares of Amazon (AMZN) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive.
Amazon was the last of Big Tech names to unveil quarterly earnings this reporting season. The tech behemoth’s cloud-computing platform Amazon Web Services (AWS) was a bright spot during a lackluster quarter, but revenue failed to offset weakness in the company's core retail business.
Amazon's stock lost nearly 10% in post-market trading as investors weighed the results.
{snip}
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