Amazon Flags Continued Slowdown

Amazon forecast that net sales in the fourth quarter will be up between 17% and 27% year-on-year. It said this guidance anticipates approximately 60 basis points of favourable impact from foreign exchange rates. It reported a 29% increase in net sales for the third quarter to 32.7 billion US dollars. It said that the favourable impact from foreign exchange rates amounted to 52 million dollars. In the second quarter sales rose 31% year-on-year.

Amazon Web Services reported a 55% year-on-year increase in sales in the third quarter to 3.23 billion dollars. Source: Amazon statement