NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report were falling 6.69% to $763.62 in after-hours trading on Thursday after the e-commerce giant reported weaker-than-anticipated earnings for the 2016 third quarter.
After today's market close, the Seattle-based company posted earnings of 52 cents per diluted share, below analysts' estimates of 78 cents per share.
Revenue rose 29% to $32.71 billion year-over-year, while analysts were expecting $32.69 billion.
Amazon Web Services sales jumped 55% to $3.23 billion year-over-year.
For the fourth quarter, Amazon sees revenue of $42.0 billion to $45.5 billion. Wall Street is forecasting revenue of $44.6 billion for the current period.
More than 4.92 million of the company's shares changed hands today vs. its average 30-day volume of 3.19 million shares.
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and good cash flow from operations.
The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AMZN