8/102 sources · 2 publishersUpdated Oct 30, 12:21 UTC
Amazon reports higher capital spending and slower online growth, shares tumble 7% premarket
Amazon announced third‑quarter capital spending of more than $77 billion, well above analyst expectations. Third‑quarter sales rose 12% year over year to $201.9 billion, but online retail revenue grew only 2% to $68.5 billion, the slowest since early 2023. The earnings miss sent the stock down nearly 7% in pre‑market trading and highlighted pressure on ETFs with large Amazon holdings.
Why it matters
The sharp post‑earnings decline could weigh on the 957 ETFs that hold Amazon, especially those with the highest weightings, as their net asset values may be pressured by the stock’s fall.
Key facts
- 1Amazon shares fell nearly 7% in pre‑market trading on Friday. tradingview.com
- 2The company spent more than $77 billion on property and equipment in the third quarter. tradingview.com
- 3Third‑quarter sales rose 12% year over year to $201.9 billion, below expectations. tradingview.com
- 4Online retail revenue increased 2% to $68.5 billion, the slowest growth since early 2023. tradingview.com
- 5There are 957 ETFs with exposure to Amazon. tradingview.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.