Amazon is disappointing and had a 50% drop in net income in the third quarter to $3,156 billion

Amazon is disappointing and had a 50% drop in net income in the third quarter to $3,156 billion

(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.

Do you want to learn to invest in crypto activities for free, in a practical and smart way? We have prepared a free step-by-step lesson. Click here to watch

See also  Leaders celebrate the announcement of the global minimum corporate tax rate

You May Also Like

About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

Leave a Reply

Your email address will not be published. Required fields are marked *