Amazon.com shares on Wednesday traded 16 percent lower after the company a day earlier reported earnings that beat expectations but provided an underwhelming outlook.

The online retail giant posted third-quarter profit that quadrupled at $80 million, or $0.19 per share, on sales of $3.26 billion from a year ago.

Wall Street was looking for the company to report $0.18 per share on revenue of $3.14 billion, according to a survey of analysts from Thomson Financial.

Shares of Amazon were down $16.08, or 16 percent, at $84.74 in midday trading.

Amazon’s fourth-quarter guidance caused analyst concerns. The online retailer said it expects sales ranging $5.1 billion to $5.45 billion in the fourth quarter. Amazon forecasts operating income will be between $221 million and $291 million in the quarter.

The company’s guidance may be “setting the company up for a disappointment” in the fourth quarter, wrote Stifel Nicolaus analyst Scott Devitt.