Amazon may wow customers with its extraordinary array of products and customer services, but its shareholders are less-than-impressed at the moment. The company on Thursday announced second-quarter losses that were nearly double what analysts had been expecting. Furthermore, Amazon informed shareholders that third-quarter earnings were likely to be just as dismal, if not worse. Wall Street wasted little time reacting: Amazon shares dropped some 9.5 percent in after hours trading, wiping out roughly $15 billion in value overnight.
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What, Bezos Worry?
Posted by: Erika Morphy July 25, 2014 02:53 PMAmazon may wow customers with its extraordinary array of products and customer services, but its shareholders are less-than-impressed at the moment. The company on Thursday announced second-quarter losses that were nearly double what analysts had been expecting. Furthermore, Amazon informed shareholders that third-quarter earnings were likely to be just as dismal, if not worse. Wall Street wasted little time reacting: Amazon shares dropped some 9.5 percent in after hours trading, wiping out roughly $15 billion in value overnight.