Amazon shares drop as cloud growth, sales forecast lag

Quick Summary:

Amazon.com investors drove shares down sharply on Thursday (Feb 6) due to weakness in the retailer's cloud computing unit and lower-than-expected forecasts for first-quarter revenue and profit.

Competitors Microsoft and Google parent Alphabet both posted slowing cloud growth in last year’s fourth quarter, sending shares lower.

The company said it anticipates between US$151 billion and US$155 billion, compared with the average estimate of US$158 billion.

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Category: EconomyBusiness

Markets: SingaporeChina

Topics: Company Quarter Cent Billion Artificial Cloud Software Amazon Intelligence Last Estimate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-07 @ 05:08:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 699 words

Reading Time: 4 minutes read

Sentences: 32 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 25952754

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