Amazon shares plummeted -11% on Friday, amidst disappointing revenue outlook.
The e-commerce company's third-quarter revenue climbed +14.7% from the year-ago quarter to $127.10 billion, missing analysts' expectations of $127.46 billion (according to Refinitiv).
Earning for the quarter came in at 28 cents per share.
For the fourth quarter, Amazon predicted revenue in the range of $140 billion to $148 billion, well below the Street expectations of $155.15 billion (based on Refinitiv poll). The projection implies a sales growth of 2% to 8% year-on-year, compared to 9% and 38% experienced in the fourth quarters of 2021 and 2020.