Net income slid 27 percent from last year to $2.1 billion, with profits pressured by Amazon's spending to speed up most deliveries to one day.Revenue climbed 24 percent to $70 billion in the quarter to September 30, compared to the $56.6 billion in sales logged in the same period a year earlier, according to the Seattle-based company.
Amazon has been pushing to deliver packages more quickly, promising a wide selection of items to arrive within a day of being ordered by members of its Prime subscription service."We are ramping up to make our 25th holiday season the best ever for Prime customers -- with millions of products available for free one-day delivery,? said Amazon chief executive Jeff Bezos in the earnings release.
Amazon, one of the world's most valuable companies, has expanded from its origins in e-commerce to cloud services, streaming media, artificial intelligence and brick-and-mortar grocery stores, with its own lineup of consumer electronics.Analyst Andrew Lipsman at the research firm eMarketer called the quarterly results"a very mixed bag for Amazon with a couple shining bright spots but also some clouds looming in the cloud business.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong protesters call for US help, but they may be in for some disappointmentHONG KONG (NYTIMES) - The Hong Kong protests at times seem like love fests with the United States. Depending on the day, demonstrators wave American flags or Uncle Sam recruitment posters, and even dress as Captain America, complete with shield.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
E-scooter sharing services off the table, existing applications to be rejected till further notice: LTASINGAPORE — Amid rising safety concerns about personal mobility devices (PMD), the Land Transport Authority (LTA) is scrapping plans to offer e-scooter sharing licences, Senior Minister of State for Transport Dr Lam Pin Min announced in Parliament on Monday (Nov 4).
Source: TODAYonline - 🏆 1. / 99 Read more »
E-scooter sharing services off the table, existing applications to be rejected till further notice: LTASINGAPORE — Amid rising safety concerns about personal mobility devices (PMD), the Land Transport Authority (LTA) is scrapping plans to offer e-scooter sharing licences, Senior Minister of State for Transport Dr Lam Pin Min announced in Parliament on Monday (Nov 4).
Source: TODAYonline - 🏆 1. / 99 Read more »
Europe: Autos, miners push shares higher[FRANKFURT] European shares started the week on a strong footing on Monday, powered by gains in shares of automakers and miners and signs of a warm tone to US-China trade talks over the weekend. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore shares close 0.2% higher on trade deal optimismTRADE optimism that buoyed US markets on Friday had a similar effect on Asian markets on Monday, as investors clung to positive comments about progress on a US-China trade deal. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Ferrari raises 2019 outlook after solid third-quarter results, shares jumpFerrari raised guidance for full-year results on Monday after what the Italian luxury carmaker described as 'solid' results on all metrics in the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »