Amazon profits hit by rising shipping costs
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Amazon delivered another quarter of sales growth above 20%, but a spike in shipping costs cut the firm’s bottom line.
Shares dropped sharply in after-hours trade after the e-commerce giant said profits fell by about 25% to $2.1bn in the three months to 30 September.
The firm said it spent nearly $10bn (£7.78bn) on shipping costs in the most recent quarter, up 46%…
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