Thursday, October 25, 2018

After Hours: Google Down $50.59 (4.61%); Amazon Down $159.67 (8.95%)

That's Alphabet class C, the GOOG.
Here's Seattle's own GeekWire on AMZN:

Amazon posts record profits again, but stock drops as revenue of $56.6B falls short of expectations
Amazon came in shy of Wall Street’s revenue expectations, but for the second quarter in a row posted record profits.

For the third quarter Amazon reported net profits of $2.9 billion — $5.75 per share — on $56.6 billion in revenue. Analysts expected Amazon to post earnings of $3.12 per share on $57.1 billion in revenue.

The revenue number is up 29 percent over a year ago, while profits came in a whopping 10 times higher than last year’s figure of $256 million.

Amazon stock is down roughly 6 percent in after-hours trading, following news of the revenue miss. Revenue guidance for the fourth quarter between $66.5 billion and $72.5 billion also came in short of analyst expectations of $73.9 billion....MORE
Amazon Web Services revenue up 46 percent to $6.7B, operating income up 77 percent
We'll be back with Google tomorrow.