Quarterly figures
Amazon disappoints with a slump in profits and weak growth
Amazon earned significantly less in the third quarter. Photo: Michel Spingler / AP / dpa
© dpa-infocom GmbH
Amazon has released its numbers for the third quarter: The online retailer’s profit fell and this also had an impact on the stock.
The world’s largest online retailer Amazon earned significantly less in the third quarter and warned of further high costs.
In the three months to the end of September, profits fell by almost 50 percent compared to the previous year’s figure, which was spurred on by the Internet shopping boom in the Corona crisis, to 3.2 billion dollars (2.7 billion euros), as Amazon announced after the US market closed . The share initially fell by over five percent after the trading session.
Revenues rose 15 percent to $ 110.8 billion, but growth was significantly weaker than in the previous quarters. Amazon had already prepared investors for weaker results, but the annual report was still disappointing. CEO Andy Jassy also warned of higher wages, global problems in the supply chain and increased freight costs of “billions” of additional spending in the final quarter.