# \[CNBC\] Amazon shares slide on revenue miss, disappointing guidance for third quarter **URL:** \ **Category:** News for Ecomm Sellers\ **Tags:** fees, consumer-behavior, amazon\ **Created:** [August 1, 2024, 9:31pm UTC](https://sellersasksellers.com/t/cnbc-amazon-shares-slide-on-revenue-miss-disappointing-guidance-for-third-quarter/4486 "2024-08-01T21:31:13Z")\ **Posts on this page:** 1\ **Showing post:** 1
**Author:** ![papy](https://sellersasksellers.com/user_avatar/sellersasksellers.com/papy/32/7639_2.png) [@papy](https://sellersasksellers.com/u/papy)\ **Post date:** [August 1, 2024, 9:31pm UTC](https://sellersasksellers.com/t/cnbc-amazon-shares-slide-on-revenue-miss-disappointing-guidance-for-third-quarter/4486/1 "2024-08-01T21:31:13Z")
Another time that the headline misses the _real_ story… > [@](#): > > _Amazon continues to reckon with sluggish growth in its core retail business, as [competition heats up](https://www.cnbc.com/2024/07/29/temu-shein-soaring-popularity-could-hit-amazon-meta-ebay-earnings.html), largely from discount sites like Temu and Shein, which allow Chinese merchants to sell cheap items to U.S. consumers. Sales in its online stores segment grew just 5% year over year. **Revenue from third-party seller services, which includes commissions, and fulfillment and shipping fees, is accelerating faster, expanding 12% during the quarter.** _ > … > _Olsavsky said the driver for the miss was that consumers were choosing to buy cheaper products, leading to lower average selling price (ASP)._ Once again, 3P Sellers to Amazon’s rescue! They want to host the Sellers who prop them up the most, and I suspect that this factoid… > [@](#): > > \*Amazon’s [advertising revenue soared](https://www.cnbc.com/2024/08/01/amazons-advertising-business-grew-20percent-in-the-second-quarter.html) 20% to $12.77 billion during the quarter…The unit has emerged as one of **Amazon’s biggest profit generators** , and although the bulk of its ad sales continue to come from sponsored product listings on its online store, the company has added newer offerings and grown its market share in the digital ad segment …contributes even more to feeding Amazon than FBA fees. > **[Amazon shares slide on revenue miss, disappointing guidance for third quarter](https://www.cnbc.com/2024/08/01/amazon-amzn-q2-earnings-report-2024.html)** > > Amazon missed on revenue for the second quarter and gave a forecast for the current quarter that fell short of Wall Street's expectations. --- _[View the full topic](https://sellersasksellers.com/t/cnbc-amazon-shares-slide-on-revenue-miss-disappointing-guidance-for-third-quarter/4486)._