You are here: Home » International » News » Companies
Business Standard

Amazon's big profit miss spooks investors, but analysts stay bullish

Shares of the e-commerce juggernaut, which have risen 40% this year, were down 4.3%

Reuters 

A steeper-than-expected drop in quarterly profit rattled some Amazon.com investors, but Wall Street analysts remained largely bullish about the company's aggressive spending plans. Shares of the e-commerce juggernaut, which have risen 40 per cent this year, were down 4.3 per cent at $1,001 in early trading on Friday, wiping out $21 billion from its market value. The stock touched a record high on Thursday, helping CEO Jeff Bezos briefly unseat Microsoft Inc co-founder Bill Gates as the world's richest person. "The overall story coming out of Amazon's second ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, July 28 2017. 20:21 IST
RECOMMENDED FOR YOU