Amazon third-quarter sales miss estimates

Amazon.com Inc`s quarterly sales missed Wall Street forecasts on Thursday, sending shares of the world`s biggest online retailer down by 6 percent in late trade.

Net sales rose to $56.58 billion from $43.74 billion a year earlier, but missed analyst estimates of $57.1 billion, according to Refinitiv data.

Amazon`s net income rose to $2.88 billion, or $5.75 per share, in the third quarter ended Sept. 30 from $256 million, or 52 cents per share, a year earlier.

Revenue from Amazon Web Services (AWS), the company`s fast-growing cloud services business, surged 45.7 percent to $6.68 billion, narrowly edging past estimates of $6.67 billion.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)