Oct 24, 2019

Amazon stock falls 5% after hours due to earnings miss

Photo: Paul Hennessy/NurPhoto/Getty Images

Amazon's stock fell sharply Thursday after the company narrowly missed analysts' expectations on earnings per share for the third quarter, reporting $4.23 vs. the expected $4.62. The tech giant's revenue for the quarter was higher than expected ($69.9 billion vs. $68.8 billion), CNBC reports.

The big picture: It's not yet clear why Amazon missed expectations, but analysts have raised questions about how much the retailer's move this year from two-day to one-day Prime delivery will cost as it becomes widely implemented.

Go deeper

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Countries where novel coronavirus cases are falling may be hit with a "second peak" if they relax restrictions too soon, World Health Organization emergencies chief Mike Ryan warned during a briefing Monday. "We're still very much in a phase where the disease is actually on the way up," he added.

By the numbers: Brazil on Monday recorded for the first time more deaths from the novel coronavirus in a single day than the United States, Reuters notes. Brazil reported 807 deaths from COVID-19 in the past 24 hours, compared to 620 in the U.S. for the same period.

Palantir CEO reflects on work with ICE

Palantir CEO Alex Karp told "Axios on HBO" that there have "absolutely" been moments he wished the company hadn't taken a contract with Immigration and Customs Enforcement (ICE).

  • "Did I suffer? ... I've had some of my favorite employees leave," Karp told "Axios on HBO."

Michigan governor won't apologize for coronavirus lockdown

Michigan Gov. Gretchen Whitmer defended the strictness of her state's coronavirus lockdown in an interview with "Axios on HBO," saying it was necessary — despite the protests that have drawn national attention — because of how quickly the state's cases were rising.

The big picture: Whitmer, who has been a frequent target of President Trump, insisted that she had to act in the face of a lack of federal leadership — and that thousands more people in her state would have died without the lockdown.