Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 3.68% to $116.16 during Wednesday’s pre-market session. The stock is possibly falling in sympathy with FAANG, mega-cap U.S. tech stock peers Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) following quarterly results.
What Happened?
Microsoft shares are trading lower by 6.76% to $233.71 Wednesday morning despite the company reporting better-than-expected first-quarter EPS and sales results.
Microsoft reported first-quarter revenue of $50.1 billion, up 11% year-over-year. The total beat an estimate of $49.8 billion from analysts, according to data from Benzinga Pro.
The company reported earnings of $2.35, which beat estimates of $2.32 from analysts.
“In a world facing increasing headwinds, digital technology is the ultimate tailwind,” Microsoft CEO Satya Nadella said…Read More
Meanwhile, Alphabet said third-quarter revenue increased 6% year-over-year to $69.09 billion, which missed average analyst estimates of $70.91 billion, according to Benzinga Pro.
Alphabet’s Search division generated $39.54 billion, YouTube ads totaled $7.07 billion and the Google Network division added $7.87 billion within the Google Ad segment…Read More
According to data from Benzinga Pro, Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.
