Amazon.com (AMZN) Under Heavy Pressure After Huge Q3 Miss

Shares of Amazon.com (NASDAQ: AMZN) are getting thrashed in after-hours action Tuesday after reporting a surprise third quarter miss.

While revenue at online retail giant rose 44% to $10.88 billion, they missed the analyst consensus of $10.93 billion.

Net income decreased 73% to $63 million in the third quarter, or $0.14 per diluted share, which fell well short of the Wall Street consensus of $0.24 per share.

One bright spot for Amazon was International segment sales, which rose 44% to $4.94 billion.

Founder and CEO of Amazon.com Jeff Bezos also noted that September 28th was the biggest order day ever for Kindle after they launched the Kindle Fire.

Looking ahead to the all-important fourth quarter, Amazon sees net sales between $16.45 billion and $18.65 billion versus the consensus of $18.10 billion.

Operating income (loss) for the fourth quarter is expected to be between $(200) million and $250 million, or between 142% decline and 47% decline compared with fourth quarter 2010.

Shares of Amazon last traded at $196, down 14% from the close.

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