Amazon’s stock drop after results is the smallest in seven years

Amazon.com Inc.’s stock selloff might seem huge, given that it has erased over $10 billion in market value, but it is actually headed for the smallest one-day post-earnings decline in seven years.

The e-commerce giant reported late Thursday second-quarter earnings per share that fell to 40 cents from $1.78 a year ago, and missed the FactSet consensus of $1.41. The miss on a percentage basis was by 71.6%, the biggest since Amazon reported a loss that was 72.3% wider than expected for the second quarter of 2014.

Read: Amazon’s free-spending ways hit earnings, but don’t expect a shift to thrift.

The stock AMZN, -2.48% slumped $25.96, or 2.5%, to close at $1,020.04.

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