Amazon is down 9.9% in pre-market trading.
It reported disappointing earnings last night, whiffing on revenue and EPS expectations. It provided weaker revenue guidance than expected. It also forecasted a big loss for the holiday quarter.
There’s more: It took a $US170 million write down related to the Fire phone, and it said it has $US83 million in unsold Fire phones laying around. This confirms what everyone thought — the Fire phone is a flop.
Basically, there was very little that was good for the company in the report.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.