Amazon Q3 Results Miss Wall Street Forecasts; CEO Andy Jassy Warns Of Sizable Holiday Hit Due To Supply Chain Issues, Labor Shortages - NewsBreak

Amazon fell short of Wall Street analysts' estimates in the third quarter — the first with CEO Andy Jassy at the helm — amid a slowdown relative to the pandemic boom of 2020. Net income fell nearly in half compared with the year-earlier period, hitting $3.2 billion, or $6.12 per diluted share. Analysts had expected $8.92. Total revenue gained 15% to $110.8 billion, but the uptick was below those of typical quarters due to the pandemic comparisons. Jassy, a longtime senior executive at the tech giant, took over for founder Jeff Bezos on July 5. Bezos remains onboard as executive chairman. In the...