Amazon.com Inc. late Thursday reported third-quarter earnings per share of $6.12 per diluted share, well below analyst estimates that ranged from $8.92 to $9.10 per diluted share and about half of third-quarter 2020’s EPS results.
Operating income fell to $4.9 billion from $6.2 billion, the Seattle-based e-tailer said. Revenue rose 15% to $110.8 billion. Shipping costs in the quarter rose 20% year-on-year to $18.1 billion, Amazon (NASDAQ:AMZN) said.
Net income fell to $3.2 billion in the quarter from $6.3 billion in the third quarter of 2020, a period when fulfillment and delivery activity was off the charts as the COVID-19 pandemic raged across America.
In after-hours trading Thursday, Amazon shares were down $177.58 a share, a drop of more than 5%. Shares closed higher in regular trading by 1.6%, closing at $3,446.57 a share.
CEO Andy Jassy, presiding over his first complete reporting quarter since succeeding Jeff Bezos on July 5, said the results underscore Amazon’s willingness to invest heavily for the long term even if causes short-term bottom-line pain. Jassy noted, for example, that Amazon has nearly doubled the size of its fulfillment network since the pandemic began in March 2020.
The company also expects to incur several billion dollars in additional expenses as it works through global supply chain bottlenecks, labor shortages, the impact of higher wages on its bottom line, and higher freight and shipping costs, Jassy said.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now
Myrtlesamond
I am making $200 to $300per hour for doing online work from home. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life.if you interested…Go to this link, fill out a basic online form and hit submit at,Home Profit System And Follow The instructions as Home Profit System And Set Up your Ac Count.. GOOD LUCK★★
↓↓↓↓THIS WEBSITE↓↓↓↓>>>>>>HERE☛ http://Www.Smartcash1.com