Amazon reported disappointing third-quarter results as its profit fell by the biggest percentage in more than four years, and warned of a less-than-jolly holiday quarter.
Amazon’s net income fell to $3.2 billion, or $6.12 per share, in the quarter ended Sept. 30, compared with $6.3 billion, or $12.37 per share, in the year-ago period. It was the company’s biggest year-over-year profit decline since the second quarter of 2017. Operating income decreased to $4.9 billion from $6.2 billion in third quarter 2020.
Net sales rose 15% to $110.8 billion, compared with $96.1 billion in the year-ago period. Analysts had expected sales of $111.55 billion.Chain Storeage