Amazon.com Inc AMZN is trading lower Friday morning after the company announced worse-than-expected second-quarter financial results and issued guidance below estimates.
Amazon reported quarterly earnings of $15.12 per share, which beat the estimate of $12.22 per share. The company reported quarterly revenue of $113.08 billion, which came in below the estimate of $115.07 billion.
Amazon said it expects third-quarter revenue to be in a range of $106 billion to $112 billion, which was lower than the estimate of $118.62 billion.
Mizuho analyst James Lee maintained Amazon with a Buy rating and lowered the price target from $4400 to $4100 following the company's earnings report.
Price Action: Amazon has traded as high as $3,773.07 and as low as $2,871 over a 52-week period.
At last check Friday, the stock was down 6.55% at $3,364.
Photo: courtesy of Amazon.
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