NEW YORK (AP) — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after\u002Dhours trading…
The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by Amazon’s Prime Day, a major sales event for dues-paying Prime members that was pushed back to July this year from June the year before. That helped fuel Amazon’s revenue growth of 15% over last year, an improvement from the prior two quarters when revenue grew by only 7% — the slowest in nearly two decades.
“People’s budgets are tight, inflation is still high, and energy costs are additional layer on top of that,” Amazon’s Chief Financial Officer Brian Olsavsky said during a media call. “We are preparing for what could be a slower growth period.”Overall, retailers have been feeling skittish about the holiday shopping season and are offering more deals to clear out their inventories and lure in budget-conscious consumers dealing with high inflation.
The retail giant’s results mimic those of other companies this week as the economy becomes tougher to navigate with high inflation and rising interest rates. And Meta, which owns Facebook and Instagram, reported a decline in revenue for a second consecutive quarter amid its own ad slump and concerns over whether the company is spending too much money on its idea of a metaverse. Both YouTube and Meta are also facing more competition from TikTok.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
New York Rangers sign defenseman Ben Harpur to one-year contract - Daily FaceoffHarpur started the pre-season on a tryout contract with the Columbus Blue Jackets.
اقرأ أكثر »
Crime, Donald Trump centre stage in sole New York governor’s debateSparring over crime, abortion and the deadly U.S. Capitol insurrection took center stage Tuesday as New York Gov. Kathy Hochul faced her Republican challenger, U.S. Rep. Lee Zeldin in the campaign’s only televised gubernatorial debate.
اقرأ أكثر »
Another person hospitalized in York due to aconite found in recalled Galanga powderAnother person in the GTA has been hospitalized after consuming the same contaminated product responsible for making nearly a dozen patrons severely ill after eating at a Markham, Ont., restaurant in August.
اقرأ أكثر »
York Region reminds residents to dispose product recalled due to aconite contamination after one person hospitalizedOfficials in York Region are reminding residents to check their shelves for a spice product recalled due to aconite contamination after one person was hospitalized because of potential exposure to the toxin.
اقرأ أكثر »
Warrant issued for suspect in fatal shooting at North York sports complexAn arrest warrant has been issued for a suspect in connection with a triple shooting inside a North York soccer facility that left one man dead earlier this month.
اقرأ أكثر »
Pickering facility to treat more wastewater from York Region in coming decades, according to proposed legislationThe Ontario government is proposing a plan that would, over the coming decades, would send more wastewater from York Region to a treatment facility in Pickering
اقرأ أكثر »