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Amazon, the world’s largest online retailer, owns Wall Street Investors were disappointed with its outlook for the current quarter, temporarily causing the stock to fall more than four percent in after-hours trading.
Amazon reports revenue between $15.4 billion and $158.5 billion for the current quarter Dollar Analysts on average expected the figure to be $158 billion.
Sales in the last quarter rose 10% year-on-year to around $148 billion (€137.2 billion). Here too, the market had expected a bit more.
Meanwhile, the group’s important cloud division AWS grew more than expected. Their revenue increased by 19% to $26.3 billion. Analysts had expected about $26 billion. In this business, Amazon also hopes to benefit from the growing demand for computing power for artificial intelligence applications.
On top of that, profits jumped to just under $13.5 billion from $6.75 billion in the same period last year.
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