Amazon Shares Decline After Q2 Earnings
Shares of Amazon (NASDAQ: AMZN) dropped 8.3% on Friday, primarily due to weaker-than-expected growth in its Amazon Web Services (AWS), which reported an 18% year-over-year increase, significantly below growth rates of competitors like Microsoft and Alphabet, at 39% and 32%, respectively. The decline occurred around 3:28 p.m. ET, as the broader S&P 500 and Nasdaq Composite indexes fell by 1.7% and 2.3%.
Amazon reported Q2 earnings with earnings per share at $1.68 on $167.70 billion in sales, surpassing Wall Street’s estimates of $1.33 per share on $162.09 billion. However, the market’s reaction was impacted by new tariffs signed by President Trump, which range from 10% to 41% and are expected to complicate Amazon’s international operations.
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