October 24, 2019 / 8:08 PM / a month ago

Amazon holiday quarter sales forecast falls short of estimates

Oct 24 (Reuters) - Amazon.com Inc forecast fourth-quarter revenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players, sending its shares down 7%.

The company forecast net sales in the range of $80.0 billion to $86.5 billion for the fourth quarter. Analysts were expecting revenue of $87.37 billion, according to IBES data from Refinitiv. (Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco Editing by Saumyadeb Chakrabarty)

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