When Amazon was a Thanks to the lockdown over the past year and the consequent increase in online shopping, the company Recent income reports Shows that it can be slow. Net sales rose 15 percent to $ 110.8 billion in the third quarter, one step below the 27 percent growth rate in the previous quarter.
At the same time, Amazon warns that global supply chain problems, labor shortages and increased shipping costs could lead to “several billion dollars in additional costs” in the next quarter. As a result, shares of Amazon fell 3.8 percent in extended trading.
Andy Jesse, CEO of Amazon, said the company wanted to reduce the impact of these issues on customers and sales partners this holiday season. “It will be costly for us in the short term, but it is the right priority for our customers and partners,” he said in a press release. This marks Jesse’s first quarter as CEO of Amazon since Jeff Bezos resigned earlier this year.
Of course, Amazon is still making a lot of money; This is the fourth quarter in a row that it has earned more than $ 100 billion. Even if online sales decline, Amazon Web Services continues to be a huge money maker for the company, with revenue growing 39 percent to 16.1 billion.
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