Washington
Amazon’s return to profits isn’t reassuring at all to Wall Street, which has also been hit by a string of disappointing quarterly results for tech’s biggest names, from Microsoft to Google to Meta and Snap.
The e-commerce giant, however, reported a 15% increase in its turnover between July and September. The first profit of the year reached 2.9 billion dollars after two quarters. That’s certainly down from the same quarter last year, but these performances don’t seem to explain the more than 14% drop in Amazon’s gray market price since the Nasdaq close.
At least three trends are frustrating the Seattle company’s shareholders. First, Amazon is losing money again in e-commerce. Not only in North America, with a deficit of 400 million dollars against the 900 million profit of the previous year. But…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.