Amazon holiday quarter sales forecast falls short of estimates

Amazon.com Inc forecast fourth-quarter revenue below analysts' estimates on Thursday as the world's biggest online retailer faces fierce competition from Walmart and other e-commerce players, sending its shares down 7%.

The company forecast net sales in the range of $80.0 billion to $86.5 billion for the fourth quarter. Analysts were expecting revenue of $87.37 billion, according to IBES data from Refinitiv.