Despite cloud boom, Amazon’s stock falls on disappointing earnings and revenue miss

Shares of Amazon.com Inc. were down more than 7% in late trading today after the company missed expectations on earnings and revenue and reported rising negative free cash flow as it continues to throw billions of dollars at its cloud infrastructure build out. The company reported third-quarter earnings before certain costs such as stock compensation of just $1.89 per share, trailing Wall Street’s target of $1.96 per share by a fair distance. Revenue for the period came to $201.94 billion, up 12% from a year earlier but below the analyst consensus estimate of $202.31 billion. Amazon’s results looked…