The Traderszone Network

Published in TZ Latest News 23 October, 2014 by The TZ Newswire Staff

Amazon’s holiday-quarter forecast disappoints, shares dive

Amazon.com Inc’s (AMZN.O) sales projections for the crucial holiday quarter disappointed Wall Street and third-quarter results missed forecasts, sending the online retailer’s shares 9 percent lower on Thursday. After an unusually busy first half of the year that saw the online retailer spend on developing everything from mobile phones and Hollywood-style production to grocery deliveries, investors were ready to see it curtail its ambitions and start delivering sustainable profits. Thursday’s after-hours share losses wipe more than $15 billion off of Amazon’s market value.

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