Amazon earnings drop nearly 50% and holiday forecast disappoints, sending stock south
Earnings Results
Last Updated: Oct. 28, 2021 astatine 6:07 p.m. ET First Published: Oct. 28, 2021 astatine 4:11 p.m. ET
Profit declines by astir successful much than 4 years, income and fourth-quarter guidance besides neglect to conscionable analysts’ expectations amid supply-chain, staffing issues
Amazon.com Inc.’s fulfillment costs are rising amid supply-chain pressures and a labour shortage.
AFP via Getty ImagesAmazon.com Inc. missed expectations connected nett and income for the 3rd 4th arsenic its nett declined by the largest percent successful much than 4 years, the retailer announced Thursday, portion predicting different ample nett driblet for the vacation season.
Amazon AMZN reported third-quarter net of $3.2 billion, oregon $6.12 a share, down from $12.37 a twelvemonth agone and the largest year-over-year diminution since the 2nd 4th of 2017. Revenue accrued 15% to $110.8 cardinal from $96.15 cardinal a twelvemonth ago, but missed analysts’ expectations.
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