Amazon shares fall after third-quarter results miss estimates and holiday revenue guidance disappoints

Amazon.com Inc. shares dropped up to 10% in extended trading on Thursday after the company reported third-quarter results that missed expectations and issued cautious holiday revenue guidance. Third-quarter GAAP earnings per share of $1.89 missed analyst estimates by $0.07, while net sales of $201.9 billion fell short of consensus forecasts despite rising 12% year-over-year. For the fourth quarter, Amazon projected net sales of $240.0 billion to $247.0 billion, with the midpoint trailing consensus estimates. The cautious outlook and roughly $220 billion in projected 2026 capital expenditures overshadowed accelerating Amazon Web Services revenue, which grew 39% to $46.0 billion.