There were no rating downgrades, however, from the Wall Street analysts who have nearly universally backed the company's long-term prospects.
After falling as low $1028.77, Shares of Alphabet were down about 3 percent to $1,071.01 after hours from their close at $1103.59.
The world's largest retailer is facing hurdles to boost sales in worldwide markets as well as increased competition at home from the likes of Best Buy, Target Corp and Walmart Inc, who are stepping up digital investments.
Devitt noted, "Our 3Q:18 topline estimate of $57.1B is in line with consensus expectations and near the high-end of the guided range ($54.0B- $57.5B)".
As well, Amazon expanded its Prime Video product with new original shows, launched its Prime Book Box to all of its US-based Prime customers, setup shop in Turkey, improved Alexa, and much, much more.
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Amazon said it expects fourth-quarter revenue to be between $66.5 billion and $72.5 billion, citing an "unfavorable impact" from foreign exchange rates. The company says it had operating income of $3.7 billion during its latest third quarter; in comparison, its third quarter in 2017 had an operating income of $347 million. Analysts said worldwide results were disappointing and online competition was increasing. As part of its earnings call, the company also warned that its fourth quarter would likely do the same, despite including the busy holiday season. About half of our Diwali sales previous year were in Q3. It purchased online pharmacy PillPack in June, which followed its US$13.7 billion acquisition of Whole Foods a year ago to jump start its grocery business.
Sales from Amazon's main online stores rose 11 percent from a year earlier, while the Amazon Web Services cloud-computing unit reported a 46 percent increase in sales.
The division's operating profit, meanwhile, grew 77% over the same time period to $US2.1 billion, accounting for more than a third of Amazon's total net profit for the period.
Shares in Alphabet fell about 6 per cent, knocking about $45 billion off its market value after it fell short on sales after beating estimates for the past eight quarters.
Yet again, Amazon's cloud business gave it a big boost.
In a prepared statement, CEO Jeff Bezos also pointed to the growth of Amazon Business, its marketplace for business customers.
As of October 2, 2018, Amazon's stock price was believed to be approximately $1,971.31 (£1,516.54) per share.