Amazon.com, Inc. (NASDAQ:AMZN) shares are trading lower by 3.69% to $98.66 Tuesday morning. The stock is trading lower on downward momentum after the company last week reported worse-than-expected third-quarter sales results and issued fourth-quarter sales guidance below analyst estimates.
The stock is also trading lower amid overall market weakness as stocks fall on concerns over a tight labor market, which could impact future Fed policy.
What Happened?
Amazon reported third-quarter revenue of $127.1 billion, an increase of 15% year-over-year. The total came in shy of a Street estimate of $127. 84 billion according to data from Benzinga Pro.
The company reported earnings per share of 28 cents in the third quarter, beating a Street estimate of 22 cents per share.
Meanwhile, Amazon is guiding for fourth-quarter revenue to be in a range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion…Read More
See Also: What’s Going On With Alibaba Shares
Amazon has a 52-week high of $188.11 and a 52-week low of $97.66.
