Amazon's profit soars, but revenue disappoints

Published 10-25-2018

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NEW YORK (AP) - Amazon's profit soared to nearly $3 billion in the third quarter, fueled by the growth of online shopping and its cloud-computing service. But the online retailer's revenue didn't meet Wall Street expectations, and shares of Amazon.com Inc. fell Thursday in after-hours trading.

The Seattle-based company reported earnings of $2.88 billion, or $5.75 per share, beating the $3.29 per share analyst expected, according to Zacks Investment Research.

Revenue rose 29 percent to $56.58 billion, below the $57.05 billion analysts expected.

For the current quarter, which includes the busy holiday shopping season, Amazon said it expects revenue in the range of $66.5 billion to $72.5 billion. Analysts expected revenue of $73.87 billion.

Shares of Amazon.com Inc., which are up 52 percent this year, fell 5 percent to $1,686.10 in extended trading Thursday.

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Parts of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMZN at https://www.zacks.com/ap/AMZN

Parts of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMZN at https://www.zacks.com/ap/AMZN

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