Jeff Bezos Andy Jassy pandemic 2020 CEO Jeff Bezos Andy Jassy

Amazon Q3 Results Miss Wall Street Forecasts; CEO Andy Jassy Warns Of Sizable Holiday Hit Due To Supply Chain Issues, Labor Shortages

Reading now: 818
deadline.com

Amazon fell short of Wall Street analysts’ estimates in the third quarter — the first with CEO Andy Jassy at the helm — amid a slowdown relative to the pandemic boom of 2020.Net income fell nearly in half compared with the year-earlier period, hitting $3.2 billion, or $6.12 per diluted share.

Analysts had expected $8.92. Total revenue gained 15% to $110.8 billion, but the uptick was below those of typical quarters due to the pandemic comparisons.Jassy, a longtime senior executive at the tech giant, took over for founder Jeff Bezos on July 5.

Bezos remains onboard as executive chairman.In the company’s earnings release, the new CEO warned that the current quarter and near-term periods could also see “several billion dollars of additional

Read more on deadline.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA