EARNINGS-Amazon holiday quarter sales forecast falls short of estimates
Oct 24 (Reuters) - Amazon.com Inc AMZN.Oforecastfourth-quarterrevenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart WMT.N and other e-commerce players, sending its shares down 7%.
The company forecast net sales in the range of $80.0 billion to $86.5 billion for the fourth quarter. Analysts were expecting revenue of $87.37 billion, according to IBES data from Refinitiv.
(Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco Editing by Saumyadeb Chakrabarty)
((akanksha.rana@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1130; Reuters Messaging: akanksha.rana.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Latest Markets Videos
Explore US Markets
ExploreMost Popular
- US STOCKS-Wall St plunges as Snap's bleak forecast sparks selloff
- US STOCKS-Wall Street surges on upbeat retail guidance, easing Fed fears
- All Fed officials backed May rate hike, 'most' saw half-point rises in June and July, minutes show
- Fed could cut rates in 2023, 2024 once inflation under control -Bullard