Amazon’s pessimism shocks its shareholders

The group’s forecasts for the fourth quarter, its strongest period due to end-of-year holiday purchases, disappointed shareholders.

Washington

The return to profits for Amazon does not at all reassure Wall Street, which has also been traumatized by a series of disappointing quarterly results for the biggest names in technology, from Microsoft to Google, via Meta and Snap.

The e-commerce giant, however, reports a 15% increase in its turnover from July to September. The first profits of the year, after two quarters in the red, reached 2.9 billion dollars. This certainly marks a drop compared to the equivalent quarter last year, but these performances at first sight do not explain the collapse of more than 14% of Amazon’s price on the gray market, after the closing of the Nasdaq.

At least three trends are disappointing shareholders of the Seattle firm. First, in e-commerce, Amazon is again losing money. Not only in North America, with a deficit of 400 million dollars, against 900 million profits the previous year. But…

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