Amazon shares fell 7.42% in premarket trading on Friday to $225.71, down $18.08 from Thursday’s close of $243.79, after the company missed third-quarter forecasts. Revenue rose 12% to $201.9 billion but fell short of expectations, and earnings also came in below estimates. Spending was the bigger worry. Amazon invested more than $77 billion in property and equipment during the quarter, well above forecasts, as it adds data centre capacity for AI. It kept its 2026 capital spending plan at $220 billion and reported negative free cash flow for a second straight quarter. Online store sales grew just 2% to $68.5 billion, the weakest pace since early 2023. AWS was a bright spot, with growth accelerating for a sixth quarter in a row.
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