“Amazon shares tumble after third-quarter outlook disappoints”
August 7, 2024
“Amazon shares closed down about 8.7% on Friday, a day after the company reported mixed second-quarter results and gave a forecast for the third quarter that fell short of Wall Street’s expectations.
Revenue in the second quarter rose 10% from a year earlier to $147.98 billion, falling just short of the $148.56 billion projected by LSEG. Net income at Amazon nearly doubled from a year earlier to $1.26 a share, topping analysts estimates of $1.03 per share and providing the latest evidence that the company’s focus on cost-cutting is bolstering its bottom line…”