Amazon warns of 0 profit holiday
News
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Oct 2022
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WWD
What: Shares plunged more than 20% in after-hours trading once Amazon reported the possibility of zero dollars in profit.
Why it is important: Amazon anticipates net sales to land between 140 billion and 148 billion dollars, for growth of between 2 and 8% year-over-year which disappointed analysts, who expected 155 billion dollars.
Uncertainty over its projected operating income also stood out as Amazon announced it would fall somewhere “between 0 dollars and 4 billion dollars.”
The company’s convenience and accessibility are expected to support them this holiday season as brands, retailers and customers face inflation and economic strain.
