Amazon’s sales are up, but it’s expecting a tight holiday season
Amazon’s sales finally picked up in the third quarter following three consecutive quarters of single-digit growth, according to the company’s earnings released Thursday. But it’s expecting a tighter holiday season amid an uncertain economic environment, and the company’s stock fell more than 4 percent in after-hours trading.
Sales hit $127.1 billion last quarter, up 15 percent year over year. That number was likely buoyed by Amazon’s successful Prime Day event in July, which it has called its “biggest Prime Day event ever.” Despite that growth, the company is predicting a slower holiday season. In its guidance, Amazon said net sales should grow between 2 and 8 percent year over year next quarter; last year, Amazon saw 9 percent growth in...
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