Amazon.com posted a loss that was wider than Wall Street expectations Thursday, sending shares lower in extended-hours trading.
The online retail giant posted a loss of 27 cents a share, sharply missing expectations for a loss of 15 cents a share, according to a consensus estimate from Thomson Reuters. The company posted sales of $19.34 billion, matching forecasts.
Shares dropped heavily in extended-hours trading. (Click here to see how shares are trading.)
Additionally, Amazon expects to post sales of between $19.7 billion and $21.5 billion in the current quarter, versus projections for $20.83 billion.
"It would be a blowout if they can hit those upside targets," said CNBC's "Fast Money" trader Jon Najarian of OptionMonster. "Maybe that's just a lot of what was built into launching the phone, launching their new streaming services and so forth that are all going into that 27-cent loss in [the second] quarter."
For the current quarter, Amazon indicated it may report more losses. The company expects to see an operating loss of between $810 million and $410 million, sharply below Street estimates.