AMZN Stock Is Trending in Premarket Trading: Here's Why

Amazon.com Inc. (NASDAQ:AMZN) shares are trending on Friday.

Q3 Earnings Miss

Shares of the technology company fell 7.30% to $225.99 in premarket trading on Friday after its third-quarter results missed analyst estimates for both earnings and revenue.

Amazon announced its results on Thursday for the period ended Sept. 30.

Revenue came in at $201.94 billion, falling short of the $202.22 billion estimate by 0.14%.

Earnings per share came in at $1.89, missing the $1.97 estimate by 4.06%.

Despite the earnings miss, Amazon’s cloud business showed strong growth, with AWS revenue rising more than 39%, its fastest pace in five years. However, analysts also pointed to weakness in other parts of the business.

Trading Metrics, Technical Analysis

Amazon has a market capitalization of about $2.63 trillion. Over the past 52 weeks, its stock has traded as high as $287.16 and as low as $196.00.

The Relative Strength Index (RSI) of AMZN stands at 40.72.

The stock has gained 9.39% over the past 12 months.

Price Action: In the regular session, the stock closed at $243.79, down 4.25%, according to Benzinga Pro data.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Markus Mainka via Shutterstock