Amazon Stock Sinks Over 7% After Q3 Miss as AI Spending Deepens Cash Outflow

Amazon (NASDAQ: AMZN) shares sank more than 7% to around $226 in Friday’s premarket trading after the company’s third-quarter earnings and revenue fell short of Wall Street estimates. The results also showed a sharp deterioration in free cash flow amid heavy spending on artificial intelligence infrastructure, even as growth at Amazon Web Services (AWS) accelerated. The e-commerce and cloud computing giant reported third-quarter revenue of $201.94 billion , up 12% year over year but below analysts’ $202.21 billion estimate. Earnings of $1.89 per share also missed the $1.97 consensus forecast. Amazon said Prime Day took place in the second quarter in most large countries in 2026, after falling entirely in the third quarter in 2025.

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