Amazon shares drop after cloud unit results disappoint

Amazon shares fell 7% on Friday in Europe after the company delivered an upbeat outlook for third-quarter sales, but missed expectations for its cloud computing unit, after its competitors easily beat Wall Street forecasts.

Shares in Frankfurt dropped by more than 7% in opening trade. Amazon stock plunged by more than 7% after-hours on Thursday, having ended the regular trading session up 1.7% at $234.11.