Amazon on Thursday evening delivered a rare double miss. Shares of the e-commerce and cloud giant sank in after-hours trading as quarterly revenue and earnings fell short of estimates. Weaker-than-expected retail sales and advertising revenue offset strong Amazon Web Services numbers. Current quarter guidance also missed, though management was probably being conservative there. Revenue increased 12% year over year to $201.9 billion, missing the consensus analyst estimate of $202.3 billion, according to LSEG data. Earnings per share based on generally accepted accounting principles (GAAP) fell 3% year over year to $1.89, missing the consensus estimate of $1.96, according to LSEG. Operating Income of $28 billion beat analyst forecasts by about $1.8 billion, according to FactSet. AMZN YTD mountain Amazon YTD Amazon’s roughly 6.5% post-earnings slide followed up a 4% decline during the regular session. Bottom line At around $228 per share, the Club stock has given back the entire 15%…
We’re cutting our Amazon price target after a rough quarter. But it isn’t all bad
