Amazon slid more than 4% in premarket trading as it missed sales estimates for the second straight quarter

Amazon slid more than 4% in premarket trading as itmissed sales estimates for the second straight quarter.According to the financial report,itssalesinthe third quarterrose 12% to $110.8 billion, compared with $96.1 billion in the second quarter of 2020. The figure was lower than Wall Street's previous forecast of $111.81 billion in net sales, and was thought to be the result of slowing growth after the surge in online shopping.

Its Net profit was US $3.2 billion, down 50.2% from US $6.3 billion in the same period last year.

Among them, product sales were US $54.88 billion, up 4% year-on-year, and service sales were US $55.93 billion, up 29% year-on-year.