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AP National Business

Amazon reports sales and profit shortfall in 3Q

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Published 3:56 PM

By ANNE D’INNOCENZIO
By AP Retail Writer

NEW YORK (AP) — Amazon is forecasting revenue growth for the holiday quarter that is below analysts’ expectations, the latest evidence that the pandemic-induced online splurging is easing. The disappointing forecast, announced Thursday, comes as the Seattle-based online behemoth posted profits and revenue for the third quarter that also fell short of Wall Street estimates. Amazon also said it expects to incur several billions of dollars in extra costs in labor and other expenses as it deals with supply chain snarls and labor shortages.

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