The after-hours stock drop came despite second-quarter profit and cloud computing sales that beat Wall Street estimates.
Amazon's chief financial officer Brian Olsavsky said in a call with reporters that consumers were being more cautious with their spending. "They are looking for deals," he said, noting that lower priced products were selling briskly.
Chief executive Andy Jassy, on a call with analysts, said that customers were trading down on price when they could.
Amazon's online stores sales rose 5 per cent in the second quarter to US$55.4 billion (S$73.8 billion), compared with a 7 per cent gain in the first quarter.
One analyst said the softer retail sales were driving the postmarket shares sell-off.
Esta historia es de la edición August 03, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 03, 2024 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
PRANCING IN A PACK
Ferrari boss says constructors' c'ship too close to call, with four teams in the mix
F1 drivers swear by their 'human' emotions
Leading Formula One drivers at this week's Singapore Grand Prix said on Sept 19 they would not tone down their language on team radio, after governing body the International Automobile Federation (FIA) warned them to cut out the swearing.
NIGHT RACE CRUCIAL TO TIGHT TITLE FIGHT
For the first time in years, F1 heads to S'pore with a genuine battle for the drivers' crown
VOLUNTEERS WITH PASSION FOR F1
Love for the motor sport sees helping hands of S'pore GP return year after year
Hojlund and Mount to return in 'careful way'
Rasmus Hojlund and Mason Mount could make their returns during Manchester United's English Premier League trip to Crystal Palace on Sept 21, but manager Erik ten Hag is wary of rushing the duo back from injury.
ALISSON A DOUBT AGAINST CHERRIES
Slot also set to be without Elliott; expects 'aggressive' Bournemouth side
Raya's saves the best Arteta has ever seen
Arsenal manager Mikel Arteta hailed his goalkeeper David Raya, after the Spaniard's miraculous double save earned his side a 0-0 draw away to Atalanta in the Champions League on Sept 19.
DIVERSITY KEY FOR FENCING EXCO
Team of 11 include national water polo captain and former S'pore wushu athlete
Surge in Ohtani-mania after historic 50-50 feat
Japan erupted in cheers on Sept 20, a day after national hero Shohei Ohtani blasted his way into Major League Baseball (MLB) history as the first player to hit 50 home runs and steal 50 bases in a season.
Foreign-led Young Lions eye new territory
Things are looking upbeat for perennial bottom dwellers Young Lions this Singapore Premier League term with the infusion of several foreign players and seasoned campaigners.