Amazon.com Inc. (AMZN) is continuing to show weakness during pre-market trading on Thursday following the release of quarterly results. At 8:19 am ET the stock is trading at $43.01 down $6.80 from Wednesday's close.
With the decline, the stock stands to open below recent support and at its lowest level in a year and a half.
announced that its third quarter net income increased to $118 million or $0.27 per share, from $80 million or $0.19 per share, in third quarter of 2007.
Net sales increased 31% to $4.26 billion in the third quarter, compared with $3.26 billion in third quarter 2007. Excluding the $80 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 28% compared with third quarter 2007.
Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.25 per share on revenues of $4.27 billion for the quarter.
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