“They are looking for deals”: Amazon’s CFO explains sales slowdown
Inside Retail
AUGUST 4, 2024
Amazon.com reported slowing online sales growth in the second quarter and said cautious consumers were seeking out cheaper options for purchases, sending shares down nearly 8 per cent. The after-hours stock drop came despite second-quarter profit and cloud computing sales that beat analyst estimates. Amazon shares had gained over 20 per cent this year through the session close on Thursday, and investors were disappointed that the company forecast current-quarter sales below Wall Street estimates
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