Amazon’s pessimism shocks its shareholders

The group’s forecasts for the fourth quarter, its strongest period due to end-of-year holiday buying, disappointed shareholders.

Washington

The return to profit for Amazon does little to reassure Wall Street, which has also been traumatized by a series of disappointing quarterly results for the biggest names in tech, from Microsoft to Google, via Meta and Snap.

However, the e-commerce giant reports a 15% increase in its revenue from July to September. The first profit of the year reached after two quarters in minus 2.9 billion dollars. This certainly marks a decline from the same quarter last year, but these performances do not at first glance explain the more than 14% collapse of Amazon’s gray market price after the close of the Nasdaq.

At least three trends are disappointing shareholders in the Seattle company. First, in e-commerce, Amazon is again losing money. Not only in North America, with a deficit of 400 million dollars, against a 900 million profit the year before. But…

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