Amazon’s Q2 2021 earnings report disappointed Wall Street and caused the ecommerce company’s stock to fall 6.8 percent in after-hours trading at press time. Analysts expected the company to post $115.2 billion in revenue, according to Refinitiv data obtained by CNBC. The company’s Q2 2021 earnings report marked Amazon’s third straight quarter of posting over $100 billion in revenue; the company first reached that milestone in Q4 2020, making it the second tech company after Apple to post over $100 billion in quarterly revenue.
Amazon enjoyed a surge in growth over the last year due to the coronavirus pandemic, which incentivized many consumers to shop online. Amazon cited difficulties in exceeding the financial growth it saw during the coronavirus pandemic in Q2 2021 during