Amazon’s profits reached a record US$2.9 billion for the three months to September 30th on sales which were up by 29 per cent to US$56.6 billion. The sales were less than analysts had estimated and this saw shares fall by 9 per cent. Amazon is forecasting sales in the range of US$66.5 billion – US$72.5 billion for the final quarter.
Jeff Bezos, sidestepping the issue of the lower than expected overall sales commented, “Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public sector organisations in eight countries. And we’re now slowing down – Amazon Business is adding customers rapidly, including large educational institutions, local governments, and more than half of the Fortune 100.”
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