Amazon shares fell hard (nearly 20%) in after-hours trading on Thursday after reporting misses on revenue and sales for its Amazon Web Services cloud business.
The e-commerce giant also posted disappointing fourth-quarter guidance.
In Q3, Amazon reaped revenue of $127.1 billion falling short of the expected $127.63 billion though its adjusted earnings per share (EPS) came in 28 cents actual versus 22 cents expected.
Amazon Web Services (AWS) Net Sales also came in at $20.5 billion actual versus $21 billion expected.
Disappointingly, for the fourth-quarter, Amazon guided to between $140 billion and $144 billion instead of the expected $155 billion.
In Q3, Amazon’s operating income came in at $2.5 billion, compared with $4.9 billion in the same quarter last year.