Amazon stock falls 5% after hours due to earnings miss
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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.