THE DAILY TELEGRAPH: Amazon shares plunged in after-hours trading on Tuesday as the online retail giant said net profit fell sharply in the third quarter and provided a weak outlook for the holiday period.
Amazon shares shed 14.25pc to $194.77 after the Seattle, Washington-based company released its earnings for the quarter ending September 30.
Amazon said net profit declined 73pc to $63m in the quarter compared with the same quarter a year ago.
Earnings per share of 14 cents were well below the 24 cents per share expected by Wall Street analysts.
Revenue was up 44pc to $10.88bn, slightly below the $10.93bn forecast by analysts.
Amazon said it expected revenue of between $16.45bn and $18.65bn in the current quarter, less than the midpoint of $18.1bn expected by analysts for the period, which includes the Christmas holiday. » | Telegraph staff and agencies | Tuesday, October 25, 2011
