Amazon shares plummet on weak sales forecast despite CEO touting cloud growth

Category: Business

Amazon's current quarter sales forecast fell below estimates, causing a 6% drop in shares after hours, despite a strong second-quarter profit. AWS revenue grew by 19% to $26.3 billion, exceeding expectations, but the company's third-quarter revenue outlook is lower than analyst predictions.

Keywords: Amazon, AWS, Earnings

Source: New York Post

Update At: 8/2/2024

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