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on Thursday reported second-quarter earnings that beat expectations on most metrics, but the results weren’t good enough to please Wall Street.
Amazon stock slid following the release and throughout the conference call. Shares were down about 7% Friday.
Profit guidance was weaker than expected, while cloud growth underwhelmed investors.
That overshadowed an otherwise upbeat report that included strong revenue and profits, steady retail growth and a 23% increase in advertising sales. Amazon also offered a rosy revenue forecast for the current quarter.
