Amazon.com Inc. delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers.
Shares fell 9 percent in after-hours trade.
After a long-running surge in sales during the COVID-19 pandemic, Amazon is facing a litany of challenges. The company’s expenses swelled as it offered higher pay to attract workers. A fulfillment center in New York City voted to create Amazon’s first U.S. union, a result the retailer is contesting. And the higher price of fuel risks diminishing consumers’ disposable income just as it is making delivery more expensive for Amazon, the world’s biggest online retailer.
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