Amazon reports sales and profit drop in 3Q

Published October 28, 2021 1:30 PM

By ANNE D’INNOCENZIO
By AP Retail Writer

NEW YORK (AP) — Online behemoth Amazon reported a drop in third quarter profits and sales as the pandemic-induced online splurging eases. During the three-month period ended Sept. 30, the company reported a profit of $6.2 billion, or $6.12 per share, compared with $6.3 billion, or $12.37 per share a share, during the year-ago period. Revenue jumped 15% to $110.8 billion. Analysts surveyed by FactSet on average expected $111.55 billion in quarterly revenue and per-share earnings of $8.90. In July, Amazon warned that revenue will be in the range of $106 billion to $112 billion for the third quarter. Still, this quarter marks the fourth consecutive quarter of revenue topping $100 billion.

Article Topic Follows: AP National News

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