(stock struggle)
Amazon reported third-quarter net income of $3.156 billion, or $6.12 per share, after adjustments. The result represented a decrease of 50.15% compared to earnings of $6.331 billion, or $12.37 per share, from the same period last year.
Analysts listened to FactSet forecast $8.90 in earnings per share, and after the result, the stock fell 3.90% after hours in New York, at 5:15 pm (GMT).
Amazon’s sales for the fourth quarter were $110.8 billion, up 15% year over year, but less than FactSet’s forecast of $111.6 billion. On the other hand, operating income decreased from $6.2 billion in the third quarter of 2020 to $4.9 billion in the same period this year.
On its balance sheet, the company says it made the last resort in the face of a choice between improving profits in the short term and “doing what is best for customers in the long term.”
Amazon says there have been efforts to expand its delivery network since the start of the pandemic, with costs rising, and it also says it is facing issues with staff shortages, rising wage costs, “global supply chain issues” as well as rising shipping costs. to transport products.
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.