Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 1.44% to $114.00, though off the session low of $111.26, ahead of the company’s third-quarter earnings report. Weakness in tech peers Meta and Alphabet following their recent earnings has possibly weighed on sentiment ahead of the report.
What’s Happening?
Meta said third-quarter revenue decreased 4% year-over-year to $27.71 billion, which beat average analyst estimates of $27.53 billion, according to Benzinga Pro. The social media and metaverse company reported quarterly earnings of $1.64 per share, which missed average estimates of $1.91 per share.
Meta said daily active people for its family of products reached 2.93 billion in September, an increase of 4% year-over-year. Monthly active people for its family of products climbed to 3.71 billion last month, up 4% year-over-year…Read More
Meanwhile, Alphabet this week said third-quarter revenue increased 6% year-over-year to $69.09 billion, which missed average analyst estimates of $70.91 billion.
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
Amazon has a 52-week high of $188.11 and a 52-week low of $101.26.
