Amazon is falling after missing Wall Street’s earnings estimate by a mile (AMZN)

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Amazon trades down 3.38% at $1,010.63 a share after Thursday’s lackluster earnings report that came after markets closed.

The e-commerce behemoth announced earnings of $0.40 a share, missing the Wall Street consensus of $1.42 by a wide margin.

However, the news wasn’t all bad, as revenue spiked 25% versus last year to $38 billion. That number was given a slight boost by Amazon’s AWS cloud service, which saw its revenue climb 42% to $4.1 billion.

Amazon said it thinks third-quarter revenue will come in between $39.25 billion and $41.75 billion.

Friday’s selling comes just one day after Amazon CEO Jeff Bezos briefly became the world’s richest person. Bezos’ net worth crossed the $91 billion mark as shares rallied Thursday morning.

Shares of Amazon are up 34.1% this year.

Markets Insider