Amazon Q3 Earnings Miss Estimates; Revenue Falls Short at $201.94 Billion

Amazon.com Inc. (AMZN) reported third-quarter net income of $20.69 billion, or $1.89 per share, falling short of the $2.01 per-share estimate from 14 analysts surveyed by Zacks Investment Research. The Seattle-based online retailer posted revenue of $201.94 billion for the period, below the $202.11 billion forecast by 11 analysts. For the current quarter ending in December, Amazon expects revenue in the range of $240 billion to $247 billion. Amazon shares have risen slightly more than 6% since the beginning of the year, trailing the S&P 500's 13% gain. In the final minutes of trading on Thursday, shares hit $245.42, up nearly 7% over the last 12 months.