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10/28, 10:02 PM (Source: TeleTrader)
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Amazon's Q3 net sales rise 15% YoY to $110.8B

Amazon.com Inc. announced on Thursday that its total net sales increased 15% year over year to hit $110.8 billion in the third quarter of fiscal 2021.

In the three months that ended September 30, 2021, diluted earnings per share stood at $6.12, 51% lower than a year ago, while net income fell 50% on a yearly basis to land at $3.2 billion in the third trimester. Operating income amounted to $4.9 billion after a 22% drop from the corresponding quarter in 2020.

"In the fourth quarter, we expect to incur several billion dollars of additional costs in our Consumer business as we manage through labor supply shortages, increased wage costs, global supply chain issues, and increased freight and shipping costs," CEO Andy Jassy noted.

Amazon lost 3.55% in after-hours trade following the earnings update.

Breaking the News / MS