Amazon inventory was pummeled after delivering a second-quarter earnings report that missed estimates, as customers spent much less time on-line because the Covid-19 restrictions had been eased. Now, there’s more likely to be a transition interval the place total on-line development will stay sluggish.
The Amazon (AMZN) earnings report arrived on July 29, after the market shut. Income of $113.08 billion missed Wall Road estimates of $115.4 billion. Its third-quarter income outlook additionally fell brief.
That is the primary quarterly earnings report with out Jeff Bezos on the helm. Andy Jassy formally took over as Amazon’s chief govt on July