Amazon Beats Street; Street Beats Amazon
Odd that the 16 percent gain in third-quarter earnings Amazon reported Thursday afternoon would have a deleterious affect on the company’s share price, which had spiked more than 35 percent since last quarter, but that’s exactly what happened.
The retail behemoth’s stock price slipped some 3 percent after hours, evidently because of a disappointing forecast for fourth quarter operating margin. Amazon expects it to be between 3 percent and 4.2 percent. Wall Street had been hoping for 5 percent. And the difference between those two outlooks seems to have overshadowed the 51 cents a share on revenue of $7.56 billion that Amazon reported, which handily exceeded the 48 cents a share on revenue of $7.37 billion analysts had been looking for.