The Clap
Amazon (NASDAQ: AMZN) reported lower-than-expected earnings for Q3 2022 and provided a lackluster forecast for Q4 2022.
The Deets
Amazon reported revenues of $127.10 billion, lower than the expected $127.46 billion, as the company’s main segments missed expectations.
Much like other big tech companies, Amazon was faced with several obstacles, from high inflation to increasing interest rates.
So What
Amazon is down more than 12% during after-hours after providing a weaker-than-expected forecast.
Now What
The company will aim to control its operations, which includes slowing down hiring and reallocating resources.
