Amazon Q3 Earnings Takeaways : Revenue Miss, Weak Guidance Sends Stock Down

$Amazon (AMZN.US)$ reported third-quarter financial results after market close Thursday. Here are the key highlights for investors.Amazon reported revenue of $110.8 billion in the third quarter, up 15% year-over-year. The revenue figure missed analysts’ estimates of $111.6 billion.Amazon reported earnings per share of $6.12, coming up shy of $8.92 consensus estimate.

“We’ve always said that when confronted with the choice between optimizing for short-term profits versus what’s best for customers over the long term, we will choose the latter – and you can see that during every phase of this pandemic,” said Amazon CEO Andy Jassy.

What’s Next: Amazon is guiding for fourth-quarter revenue to be in a range of $130 billion to $140 billion, which would be a year-over-year increase of 4% and 12%, respectively. This is below the Street consensus estimate of $142.1 billion.