Amazon share price drops after earnings miss expectations

Amazon's share price dropped almost 7% in after-hours trading following an announcement on slower growth.

Amazon Echo: launched in the UK last month
Amazon Echo: launched in the UK last month

In its third quarter results, the company reported a 219% rise in net income to $252m. But at 52 cents per share this was much lower than average estimates of 78 cents per share, according to The Telegraph.

Amazon’s shares dropped to 767.50 cents a share from 818.36 cents per share when the market closed.