Credit: REUTERS/Mike SegarOct 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.
