Amazon forecasts second-quarter sales below estimates

Amazon.com Inc forecast current-quarter sales below Wall Street estimates on Thursday, amid customers hitting pause on discretionary spending in the face of economic uncertainties and stiff competition in its cloud business.

The world's biggest online retailer projected net sales of between $116 billion and $121 billion for the second quarter. Analysts were expecting $125.48 billion, according to IBES data from Refinitiv.