The world’s largest online retailer Amazon has alienated investors with a surprisingly weak sales forecast for the Christmas quarter. The group expects revenues of between 140 billion and 148 billion US dollars (140.34 billion and 148.40 billion euros), as announced on Thursday.
Analysts had expected significantly more. In an initial reaction, the share price fell by more than 20 percent in after-hours trading. The profit forecast – Amazon is expecting a result between zero and 4.0 billion US dollars (4.01 billion euros) – caused disappointment.
In the past third quarter, Amazon earned 2.9 billion US dollars (2.91 billion euros). In the same period last year, it was still 3.2 billion US dollars (3.21 billion euros). Sales grew 15 percent to $127.1 billion (€127.43 billion), but also fell short of market expectations. (dpa)