Amazon ( AMZN) may have enjoyed a revenue hike when it released its second-quarter results Thursday, but investors are underwhelmed by the online retailer's overall performance.

Shares of Amazon plunged $7.60, or 8.10%, to $86.27 Friday, outpacing the broader decline in tech stocks that saw the Nasdaq slip 0.69%.

Despite growing its sales more than 14% year over year, the Seattle, Wash.-based firm posted a mixed bag of results with profit slipping, albeit in line with analysts' estimate. Wall Street had been expecting Amazon to show decent growth, although this was not the case across all of its operations.

The company's global Media business grew just 1% year over year, although Electronics and other General Merchandise (EGM) rose 35%. Falling demand for video games and consoles impacted Amazon's Media division, although this was offset by growth in books.

Amazon's operating income also took a hit during the quarter, plunging 27% year-over-year to $159 million, severely impacted by a $51 million settlement with Toys "R" Us.

Despite its status as something of a tech bellwether, it's worth remembering that Amazon is first and foremost a retailer that happens to use the Internet to sell books, CDs, DVDs and all the other ephemera found on its Web pages.

Amazon, of course, may be the victim of its own success, and has routinely blown past analysts' estimates, so its recent results have been greeted with more of a whimper than a bang.

Rather than seeing Apple's ( AAPL) results as a weak spot for tech, the company's numbers reflect the ongoing unease in the wider economy, which is slowly getting back onto its feet after last year's economic crisis.

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