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00:02Amazon shares fell more than 6% in extended trading Thursday
00:06after third quarter earnings and revenue missed Wall Street estimates
00:10as artificial intelligence spending weighed on cash flow, according to CNBC.
00:15The company reported earnings of $1.89 per share on revenue of $201.94 billion,
00:23below expectations of $1.96 per share and $202.31 billion.
00:30Capital expenditures more than doubled to $77.3 billion,
00:36exceeding estimates of $58.7 billion.
00:39Amazon reported negative free cash flow for the second consecutive quarter,
00:44with a $42.4 billion outflow over the trailing 12 months.
00:48Amazon Web Services revenue rose 39% to $45.98 billion,
00:55beating estimates, while advertising and online sales missed expectations.
01:00Amazon maintained its $220 billion capital spending forecast for 2026,
01:06with CEO Andy Jassy expecting higher spending in 2027.
01:10For all things money, visit Benzinga.com.
