Amazon earnings disappoint. The bigger problem is the view.

text size

Amazon Shares fell sharply in late trade Thursday after the company’s first-quarter results disappointed investors. Amazon is also forecasting weaker-than-expected sales for the second quarter.

Results from both the company’s core online retail business and advertising division fell short of Wall Street estimates, while Amazon Web Services had another strong quarter.

The stock lost 9.3% in the after-hours trading session. Other e-commerce stocks traded lower as…