Friday, October 26, 2018

Amazon’s Q3 profits skyrocket, but sales and outlook disappoint

Chain Store Age
Amazon’s third-quarter earnings blew past Street expectations amid surging profit from its North American retail and cloud computing businesses. But it came up short on sales and its holiday outlook.

For the quarter ended Sept. 30, Amazon’s net income increased to $2.88 billion compared with net income of $256 million in the year-ago period. Net sales jumped 29% to $56.58 billion from $43.74 billion. . . . more