The social networking firm, which reported quarterly earnings after the market close on Wednesday, slumped by 19 percent Thursday. Amazon.com, Inc., belongs to Services sector and Catalog & Mail Order Houses industry.
Amazon's stock spiked about four per cent to US$1,870 per share in after-hours trading following the news.
Olsavsky attributed the slowdown to a hard comparable period a year ago when Amazon lowered the price threshold for free shipping, responding to competitive pressure from Walmart Inc.
The stock increased 0.51% or $9.27 during the last trading session, reaching $1817.27. Analyst recommendation for this stock stands at 2.6.
Amazon.com opened at $1,863.61 on Monday, Marketbeat Ratings reports. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.78.
(NASDAQ:AMZN) last posted its earnings results on Thursday, April 26th.More news: Samsung’s bendy ‘unbreakable panel’ gets certified for the world
The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. Sales here rose 49 percent to $6.1bn (£4.6bn), beating the average estimate of $6bn (£4.5bn).
Another point worth calling out regarding Amazon's second quarter: 53% of paid unit growth came from third-party sellers, up from 52% in Q1 and up from 51% in Q2-2017.
Though Amazon's financial results and forecasts are decidedly more optimistic than Facebook's were, the company has not entirely evaded the increased political scrutiny now facing the US's major technology companies. The shares were sold at an average price of $1,578.02, for a total value of $686,438.70. BlackRock Inc. now owns 24,535,840 shares of the e-commerce giant's stock valued at $28,693,927,000 after buying an additional 88,437 shares during the period. Also, CFO Brian T. Olsavsky sold 2,028 shares of the business's stock in a transaction that occurred on Tuesday, May 15th. Muzinich & Co. Inc. owns 2.05 million shares or 4.54% of their United States portfolio. The disclosure for this sale can be found here.
Analyst's mean target price for Amazon.com, Inc. is $1870.79. In the USA alone, it will have a 49.1 per cent share of all e-commerce spending.
Amazon continues gaining momentum in advertising at a time when Facebook and Google, the two giants in the market, face mounting scrutiny over their data privacy practices and the prevalence of fake news and disinformation on their platforms.
Ffcm LLC raised its position in Amazon.com, Inc. Institutional ownership refers to the ownership stake in a company that is held by large financial organizations, pension funds or endowments. Amazon even trimmed losses in its worldwide business while funding expansions in India, Australia, the Middle East and Brazil. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments.