Everyone expected lower profits (aka earnings) from Amazon. But the lower revenues seem a surprise. Still I would not count them out. Far from it.
BGC Financial analyst Colin Gillis said the company "didn't really give a good answer" as to why its revenue fell short of expectations. And while its earnings were stronger than expected, he said the company has been "more revenue driven than earnings driven." That explains why investors focused on the company's sales growth. With a stock valued as high as Amazon's, they are looking for any sign of a slowdown as an excuse to sell.
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