Amazon Q3 Misses on Top and Bottom Lines, Guidance Disappoints

Amazon posted a third quarter loss of $0.95 a share on revenue of $20.58 billion. Wall Street analysts were looking for a loss of $0.74 on sales of $20.84 billion. Last year, the online retailer lost $0.09 per share on revenue of $17.09 billion. As for fourth quarter guidance, Amazon expects net sales to be between $27.3 billion and $30.3 billion, or to grow between 7 percent and 18 percent compared with fourth quarter 2013. Amazon expects its fourth quarter operating loss to be between $570 million and $430 million, compared to $510 million last year. Both of those are below Wall Street estimates. TheStreet's Gregg Greenberg has details from New York.