Amazon results and outlook fall short as warehouse, fuel costs soar
2 years, 7 months ago

Amazon results and outlook fall short as warehouse, fuel costs soar

The Hindu  

Amazon.com Inc delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers. Still, there were bright spots, like Amazon Web Services, the division that new CEO Andy Jassy ran before taking the company's top job last year. Inflation hits Amazon Net sales were $116.4 billion in the first quarter, compared to analysts' expectations of $116.3 billion, according to IBES data from Refinitiv. In North America, the company's largest market, sales rose 8% while operating expenses soared 16% to $71 billion, resulting in an operating loss of $1.6 billion for the unit in the quarter. CFO Brian Olsavsky told reporters that the company faced about $6 billion in greater costs during the first quarter from a year earlier, including $2 billion from inflationary pressures.

Amazon Fuel Costs Company Billion Quarter  amazon  quarter  outlook  higher  pandemic  delivery  operating  fall  billion  results  companys  short  company  soar  fuel  costs  sales  warehouse

History of this topic

Amazon joins India's quick commerce race with trials for 15-minute grocery delivery
1 week, 6 days ago

Amazon joins India's quick commerce race with trials for 15-minute grocery delivery

The Hindu  

Amazon will begin trials for quick commerce operations in India that would see the U.S. e-commerce giant deliver grocery items in 15 minutes or less, it said on Tuesday. Quick commerce is catching up in India, with companies like Zomato's Blinkit and SoftBank-backed Swiggy's Instamart promising deliveries of goods from groceries to electronics as quickly as 10 minutes, challenging e-commerce …

Amazon's Profit Margins Take a Hit as AI Spending Soars
1 month, 3 weeks ago

Amazon's Profit Margins Take a Hit as AI Spending Soars

Live Mint  

Amazon's third-quarter report shows strong revenue growth, despite spending heavily on artificial intelligence. The company reported an eye-popping $22.6 billion in capital expenditures, a new high and an 81% jump year-over-year. Despite the spending, Amazon's operating profit came in at $17.4 billion, nearly 19% above analysts' projections. The company's share price jumped more than 5% in after-hours trading Thursday.

Amazon eyes $5 billion in sales from Indian exporters this year in bid to move away from China sourcing
3 months, 2 weeks ago

Amazon eyes $5 billion in sales from Indian exporters this year in bid to move away from China sourcing

Live Mint  

Amazon Inc intends to help Indian exporters sell $5 billion worth of small-ticket items through its platform this year in the United States and Britain, compared to almost $3 billion in 2023, Reuters reported on Thursday, quoting a company official. Under Amazon's Global Selling programme, launched in 2015, nearly 1.5 lakh small Indian exporters are expected to sell their products …

Amazon reports boost in quarterly profits but misses revenue estimates
4 months, 3 weeks ago

Amazon reports boost in quarterly profits but misses revenue estimates

The Hindu  

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending its stock lower in after-hours trading. Amazon also said it expects revenue for the current quarter, which ends September 30, to be between $154 billion and $158.5 billion — lower than the $158.22 billion forecast by analysts. The company said Thursday that Amazon Web …

Amazon reports boost in quarterly profits but misses revenue estimates
4 months, 3 weeks ago

Amazon reports boost in quarterly profits but misses revenue estimates

Associated Press  

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending its stock lower in after-hours trading. Amazon also said it expects revenue for the current quarter, which ends Sept. 30, to be between $154 billion and $158.5 billion — lower than the $158.22 billion forecast by analysts. The company said Thursday that Amazon Web …

Amazon reports strong 1Q results driven by its cloud-computing unit and Prime Video ad dollars
7 months, 3 weeks ago

Amazon reports strong 1Q results driven by its cloud-computing unit and Prime Video ad dollars

Associated Press  

NEW YORK — Amazon on Tuesday reported strong results for the first quarter, driven by growth in its cloud-computing unit and new advertising dollars from its Prime Video streaming service. “It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” Amazon CEO Andy Jassy said …

Amazon reports better-than-expected revenue, profits for the holiday shopping season
10 months, 3 weeks ago

Amazon reports better-than-expected revenue, profits for the holiday shopping season

Associated Press  

Amazon on Thursday reported better-than-expected revenue and profits for the fourth quarter, driven by strong consumer spending during the holiday shopping season. In a statement, Amazon CEO Andy Jassy called it a “record-breaking” holiday shopping season for the company, which saw a 14% growth in revenue compared to the same period in 2022. Olsavsky also said he expects AWS to …

New center to extend reach of Chinese firms
1 year ago

New center to extend reach of Chinese firms

China Daily  

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, Jan 5, 2023. "By integrating resources from Amazon, industry organizations, experts and scholars and third-party service providers, the center is expected to accelerate innovation among sellers for new product introductions, brand building, digital operations, green development and new business models, helping to tangibly improve innovation …

Amazon posts strong revenue and profits, says it’s in ‘best position’ it’s ever been before holidays
1 year, 1 month ago

Amazon posts strong revenue and profits, says it’s in ‘best position’ it’s ever been before holidays

Associated Press  

NEW YORK — Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business. “We’re ready to make this a great holiday season for customers,” Olsavsky said, adding Amazon’s operations network and inventory are in the “best position” its ever been heading into the holiday season. Aside from the …

Amazon says its increasing pay for contracted delivery drivers
1 year, 3 months ago

Amazon says its increasing pay for contracted delivery drivers

Associated Press  

NEW YORK — Amazon says it’s boosting pay for contracted drivers who deliver millions of packages to customers every day. The company announced at a conference for delivery firms this week that it will invest $440 million over the next year to increase pay rates for drivers. Over the past five years, Amazon says 3,500 firms have signed up for …

Amazon shares surge 8% as e-commerce and cloud-computing thrive
1 year, 4 months ago

Amazon shares surge 8% as e-commerce and cloud-computing thrive

Hindustan Times  

Amazon.com closed up more than 8% on Friday on signs that its growth engines, e-commerce and cloud-computing, were faring well in an uncertain economy, helping shield the broader market from Apple's 4.8% slide after gloomy iPhone sales. READ HERE: Hurt by iPhone demand slump, Apple faces longest sales drop in decades The better-than-expected performance of Amazon's cloud business in the …

Amazon wants small businesses to help make deliveries in rural areas and big cities
1 year, 5 months ago

Amazon wants small businesses to help make deliveries in rural areas and big cities

Associated Press  

Many small businesses have long relied on Amazon’s platform and delivery pipeline to boost their business. The e-commerce giant on Monday officially launched a program it has been piloting since 2020 that pays small business owners to deliver packages during the “last mile” of delivery to customers’ doorsteps. The program, called Amazon Hub Delivery, will operate in 23 states and …

Amazon’s New Cost-Cutting Measure: E-commerce giant to pay shoppers to skip door-step delivery
1 year, 7 months ago

Amazon’s New Cost-Cutting Measure: E-commerce giant to pay shoppers to skip door-step delivery

Firstpost  

Amazon has initiated a program offering select US customers $10 if they collect their orders instead of having them delivered to their doorsteps, according to a new Reuters report. A few Amazon Prime subscribers have been sent emails over the past few days informing them of the $10 refund for orders over $25, if customers collect their deliveries from locations …

Amazon is taking half of each sale from small-business merchants
1 year, 10 months ago

Amazon is taking half of each sale from small-business merchants

LA Times  

For the first time, Amazon’s average cut of each sale on its online marketplace of third-party sellers surpassed 50% in 2022, according to a study by Marketplace Pulse. “For these small businesses, it’s getting harder and harder to be profitable because they are spending more and more money on Amazon fees,” said Juozas Kaziukėnas, Marketplace Pulse’s founder and chief executive. …

EBay to layoff about 500 staff amid declining sales: CEO
1 year, 10 months ago

EBay to layoff about 500 staff amid declining sales: CEO

Hindustan Times  

EBay Inc. is cutting about 500 employees — or 4% of its workforce — as the e-commerce company continues to face slower consumer spending after a brief pandemic boom. Analysts, on average, expect the San Jose, California-based company will report that revenue fell about 6% to $2.46 billion when it announces holiday-quarter results on Feb. 22. The reductions are in …

Amazon starts air freight services in these Indian cities. Check details
1 year, 11 months ago

Amazon starts air freight services in these Indian cities. Check details

Hindustan Times  

Amazon.com Inc. is beginning air freight services in India, expanding in Asia even as global online sales growth stalls following a pandemic-era boom. The e-commerce retail giant will use cargo capacity in a Boeing 737-800 aircraft operated by partner Quikjet Cargo Airlines Pvt to begin shipments in Hyderabad, Bangalore, New Delhi and Mumbai, said Akhil Saxena, a vice president of …

Amazon to cut 70% more jobs than previously planned
1 year, 11 months ago

Amazon to cut 70% more jobs than previously planned

Live Mint  

Amazon.com Inc. is laying off more than 18,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening, according to the Wall Street Journal. Amazon.com Inc's job cuts will now impact more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in …

Amazon to slash more than 18,000 jobs in an escalation of cuts
1 year, 11 months ago

Amazon to slash more than 18,000 jobs in an escalation of cuts

LA Times  

The layoff news at Amazon was welcomed by investors. Eliminating 18,000 workers would be the biggest cut yet for tech companies during the current slowdown, but Amazon also has a far bigger workforce than its Silicon Valley peers. At the time the company was planning its cuts in November, a spokesperson said Amazon had roughly 350,000 corporate employees worldwide. The …

Amazon posts weaker-than-expected 3Q revenue, stock tumbles
2 years, 1 month ago

Amazon posts weaker-than-expected 3Q revenue, stock tumbles

Associated Press  

NEW YORK — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by Amazon’s Prime Day, a major sales …

Amazon warns costs may eviscerate profits, shares crash
2 years, 1 month ago

Amazon warns costs may eviscerate profits, shares crash

Al Jazeera  

Amazon’s efforts to boost revenues may not pay off as inflation and receding consumer demand bite into profits. Amazon.com Inc has warned that costs might eviscerate its profit for the current quarter, as early holiday marketing does little to boost sales growth while labour and delivery expenses continue to swell. Amazon’s net sales were $127.1bn in the third quarter that …

Amazon posts 2Q loss but revenue tops estimates, stock jumps
2 years, 4 months ago

Amazon posts 2Q loss but revenue tops estimates, stock jumps

Associated Press  

NEW YORK — Amazon on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. It posted a loss of $3.84 billion in this year’s first quarter, its first quarterly loss since 2015, which was also marked by a large Rivian write-down. Some analysts estimate the company generated roughly $4.6 billion in …

Amazon Prime Day comes amid slowdown in online sales growth
2 years, 5 months ago

Amazon Prime Day comes amid slowdown in online sales growth

Associated Press  

Amazon is heading into its annual Prime Day sales event on Tuesday much differently than how it entered the pandemic. Amazon doesn’t disclose Prime Day results, though research firm Insider Intelligence suggests sales could climb to about $12.5 billion in global sales — or 17% over last year -- in part because of the event’s mid-July timing, which compared to …

Amazon to sublease warehouses as online shopping slows
2 years, 7 months ago

Amazon to sublease warehouses as online shopping slows

Associated Press  

Amazon is planning to sublease some of its warehouse space now that the pandemic-fueled surge in online shopping, which helped the e-commerce giant rake in soaring profits in the past two years, has eased. Subleasing allows the company to “relieve the financial obligations associated with an existing building that no longer meets” its needs, Amazon spokesperson Alisa Carroll said. But …

Amazon’s net loss prompts query: Has it built too many warehouses?
2 years, 7 months ago

Amazon’s net loss prompts query: Has it built too many warehouses?

The Hindu  

In recent years, Amazon.com Inc has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand. The world's largest online retailer on Thursday reported $2billion in incremental costs from having excess fulfilment and transportation capacity, a dramatic shift from just two years ago when Amazon …

Amazon reports rare quarterly loss as online shopping slows
2 years, 7 months ago

Amazon reports rare quarterly loss as online shopping slows

Associated Press  

NEW YORK — Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The ocean of red ink in Amazon’s report came mostly from the company’s accounting for a $7.6 billion loss in value of its stock investment …

Amazon adds 5% ‘fuel and inflation surcharge’ to seller fees
2 years, 8 months ago

Amazon adds 5% ‘fuel and inflation surcharge’ to seller fees

Associated Press  

Amazon is taking a step to offset its rising costs, announcing Wednesday it will add a 5% “fuel and inflation surcharge” to fees it charges third-party sellers who use the e-commerce giant’s fulfillment services. The Seattle-based company said on its website that the added fees, which take effect April 28, are “subject to change” and will apply to both apparel …

Amazon reports strong 4Q results despite supply-chain snags
2 years, 10 months ago

Amazon reports strong 4Q results despite supply-chain snags

Associated Press  

NEW YORK — Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages. “As expected over the holidays, we saw higher costs driven by labor supply shortages and inflationary pressures, and these issues persisted into the first quarter …

Amazon’s profit more than triples as pandemic boom continues
3 years, 7 months ago

Amazon’s profit more than triples as pandemic boom continues

Associated Press  

NEW YORK — Amazon’s pandemic boom isn’t showing signs of slowing down. The company said Thursday that its first-quarter profit more than tripled from a year ago, fueled by the growth of online shopping. Seattle-based Amazon is one of four American companies that have reported quarterly revenue above $100 billion. Amazon said revenue will remain at that level in the …

Amazon profit soars more than 200% in the first quarter
3 years, 7 months ago

Amazon profit soars more than 200% in the first quarter

CNN  

New York CNN Business — Amazon’s profits more than tripled in the first quarter of 2021, as the pandemic continued to boost its online retail, cloud and advertising businesses. It’s a compelling offer.” The company’s cloud unit and biggest money maker, Amazon Web Services, posted net sales of $13.5 billion during the quarter, up 32% year-over-year. Despite a tough year-over-year …

Amazon’s Retail Side Won’t Be a Side Hustle
3 years, 10 months ago

Amazon’s Retail Side Won’t Be a Side Hustle

Live Mint  

Amazon.com’s new boss may come from the cloud. Amazon announced earlier this week that Andy Jassy, current chief executive of the company’s AWS cloud division, will be running the whole company by the third quarter of this year. Consider that Amazon’s direct retail revenue from its online and physical stores, plus its third-party selling services, exceeded $294 billion last year—more …

Amazon surpasses $100B in quarterly revenue for 1st time
3 years, 10 months ago

Amazon surpasses $100B in quarterly revenue for 1st time

India TV News  

After Apple, Amazon became the second US tech company to log its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday quarter amid the Covid-19 pandemic. Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO …

Add to cart: Amazon.com reports record profits amid pandemic
4 years, 1 month ago

Add to cart: Amazon.com reports record profits amid pandemic

Al Jazeera  

The online retailer has seen its business boom as the coronavirus pandemic once again drives shoppers indoors. Amazon.com Inc on Thursday reported record profits for the second quarter in a row and forecast a jump in holiday sales, as consumers continued to shop more online during the novel coronavirus pandemic. Jeff Bezos, Amazon’s chief executive and richest person in the …

Amazon post biggest profit in history as pandemic fuels online shopping
4 years, 4 months ago

Amazon post biggest profit in history as pandemic fuels online shopping

India TV News  

Riding on surging online sales during the pandemic as people stayed home, Amazon reported solid second-quarter results, registering a 40 per cent increase in net sales to $88.9 billion, compared with $63.4 billion in the same period last year. "As expected, we spent over $4 billion on incremental COVID-19-related costs in the quarter to help keep employees safe and deliver …

Amazon posts biggest profit ever at height of pandemic in U.S.
4 years, 4 months ago

Amazon posts biggest profit ever at height of pandemic in U.S.

The Hindu  

Amazon.com Inc on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic. Jeff Bezos, who founded the company in July 1994 and is the world's richest person, said in a statement, “This was another highly unusual quarter.” Amazon's shares have risen by more than 60% …

Amazon trounces earnings estimates despite spending $4 billion on coronavirus measures
4 years, 4 months ago

Amazon trounces earnings estimates despite spending $4 billion on coronavirus measures

CNN  

New York CNN Business — Amazon’s revenue during the three months ended in June blew away Wall Street projections, as the company continued to experience a surge in demand due to the coronavirus pandemic. “This was another highly unusual quarter, and I couldn’t be more proud of and grateful to our employees around the globe,” said Amazon CEO Jeff Bezos …

Discover Related