Amazon Earnings Beat Estimates. Why the Stock Is Dropping.
28 Apr 2023
Barron's
![Amazon Earnings Beat Estimates Why the Stock Is Dropping](/thumb/phpThumb.php?src=%2Fuploads%2Fnews%2F42%2F4230%2F6%2F4230656-amazon-earnings-beat-estimates-why-the-stock-is-dropping.jpg&w=706&hash=47d2f2a499b0ba862babaff1adfa9080)
After an initial gain, weaker guidance sent shares lower.
Amazon shares initially rose sharply in late trading Thursday after the company reported first-quarter earnings and revenue that surpassed Wall Street estimates. But the stock gave up the gains after the company warned of a growth slowdown in its cloud computing unit during the current quarter.