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Amazon Is Getting Smoked This Morning

Jay YarowOct 24, 2014, 17:57 IST

Amazon is down 9.9% in pre-market trading.

It reported disappointing earnings last night, whiffing on revenue and EPS expectations. It provided weaker revenue guidance than expected. It also forecasted a big loss for the holiday quarter.

There's more: It took a $170 million write down related to the Fire phone, and it said it has $83 million in unsold Fire phones laying around. This confirms what everyone thought - the Fire phone is a flop.

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Basically, there was very little that was good for the company in the report.

Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.