US Markets

EARNINGS-Amazon holiday quarter sales forecast falls short of estimates

Credit: REUTERS/Mike Segar

Amazon.com Inc forecast fourth-quarter revenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players, sending its shares down 7%.

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

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More