Amazon.com, Inc. (AMZN) Shares Plunge On Weak Guidance

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Amazon.com, Inc. (AMZN) Shares Plunge On Weak Guidance

Amazon.com, Inc. (NASDAQ:AMZN) fell as much as 7 percent in Friday afternoon trading a day after the company’s first-quarter earnings report, although it wasn’t the earnings themselves that caught investors off-guard. It was the company’s guidance for the current quarter.

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The online retail giant actually beat expectations for its first-quarter earnings, and its revenue was close to consensus, although just under it. Amazon.com, Inc. (NASDAQ:AMZN) guided for revenue of between $14.5 and $16.2 billion for the current quarter. The middle of that guidance is lower than the consensus estimate recorded by FactSet.

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