Amazon third-quarter net sales beat estimates as more people shop online

Topics Amazon | Markets


Amazon.com Inc on Thursday reported record profit for the second quarter in a row and forecast a jump in holiday sales, as consumers continued to shop more online during the novel coronavirus pandemic.

Shares initially rose 2 per cent in after-hours trading and then turned lower by 1 per cent as the company forecast $4 billion in Covid-19 related costs for the current period and operating income below Wall Street’s expectations. Since the start of the virus outbreak in the United States, consumers have turned increasingly.

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