Amazon is ranking up high in cash but low when it comes to the level of business growth. The company sales turned out to be weaker than expected during the holiday season. This caused the stock to go about 5% in after-hours sales.
The company’s profits had cut down from $2.9 billion to $2.5 billion during the second quarter of this year 2018. Analysts mentioned the level of shares also suffered a cut down from $5.75 per share to $3.14 per share this year.
The company is facing immense pressure from its investors. The company was predicted to reach somewhere between $66.5 billion to $72.5 billion in the level of sales. Analysts estimated a figure around $73.8 billion for the e-commerce giant.
The pressure from Amazon Web Services is also playing out negatively with the investors’ minds. In spite of the decrease in sales, the company managed to shot up the analysts’ estimation of around 6.7 billion US dollars. The figure indicates that the number is also slowing down for Amazon Web Services during upcoming holiday seasons.
Keep coming back for more updates!