Amazon reports sales growth slow-down

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Source: Dukascopy Bank SA


The online retailer Amazon reported its quarterly financial results after Thursday's trading hours. In general, the firm has reported a slow-down in growth of sales, which disappointed investors and caused a stock decline. The company has suffered a decline in revenue growth due to lower demand for cloud computing services, sticky inflation and high borrowing costs.

The stock price of Amazon declined almost 8.00% during the Frankfurt trading session.

However, previously, it was known to the public that Jeff Bezos had made a stock sale in late July, as he sold three times when the stock reached above the $200.00 mark. The sale caused a price decline down to the $180.00 levels, before the financial results were revealed. Market commentators have named this event as the "Bezos Top Call".
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