Andy Jassy MGM Digital CEO Andy Jassy

Amazon Misses Q3 Financial Expectations, Warns of ‘Billions’ in Additional Costs in Year-End Quarter

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variety.com

Todd Spangler NY Digital EditorAmazon posted 15% growth in revenue for the third quarter, but it missed Wall Street expectations on the top and bottom lines — and CEO Andy Jassy said the online retailing giant expects to incur several additional billions of dollars in costs in Q4.Sales increased 15% to $110.8 billion in Q3, whereas the company’s revenue had grown 27% in Q2 and 44% in Q1.

Net income decreased to $3.2 billion in the third quarter, or $6.12 per diluted share, compared with $6.3 billion, or $12.37 per diluted share, in the year-earlier period.Click here to sign up for Variety’s free Media Earnings newsletter.On average, financial analysts expected Amazon to post Q3 revenue of $111.6 billion and EPS of $8.92, per Refinitiv.

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