Earnings per share plunged more than 50%, to $6.12 per share. Amazon stock went down in after-hours trading, dropping more than 3.75%. The company’s stock closed at $3,446.57 during regular trading. Amazon and analysts had forecasta slowdownas COVID-19 lockdowns, which encouraged online shopping, were lifted over the summer.
However, the e-commerce giant won’t pay a fine. “Today’s decision sets new rules for how Amazon operates its business in Europe. Amazon is required to follow the Commission’s final guidance for seven years.
Amazon on Tuesday named Doug Herrington as the new CEO of Worldwide Amazon Stores. He has led the North American consumer business since 2015. With the leadership change, the business will become known as Worldwide Amazon Stores, formerly called Consumer. See Also:Prime Day 2022: Early Deals From June 21 and Everything We Know
But apparently, the sales didn’t meet expectations, leading the Amazon to cancel the product. We will be sharing updates and guidance with Glow customers soon." The Amazon Glow included a wide range of entertainment and educational content. Amazon also partnered with studios for branded experiences from Disney, Mattel, Sesame Street and Nickelodeon. Curated video content was available, but kids could only watch videos while they’re calling an approved adult.
Previously, shoppers had to spend only $25 to quality for free shipping. “We’re currently testing a $35 minimum for non-Prime customers to qualify for free shipping. Amazon Prime currently costs $15 a month or $139 annually. This isn’t the first time Amazon has changed its minimum. Then raised it again in2016 to $49. In 2017,Amazon went back to the $25 minimumafter other retailers began offering free shipping. The increase in free shipping comes before Amazon’s secondPrime Day saleof the year....
The Wall Street Journalearlier reported the news, which an Amazon representative confirmed to CNET. The agency also said people should wear masks around other people for five days after ending isolation. Amazon employees who test positive will also get up to 40 hours of paid leave. The move comes as theomicron variantof COVID-19 continues to spread rapidly. On Monday, the US reportedmore than 1 million new COVID cases, and infections andhospitalizationsare on the rise....
As Netflix has grown into the Internet’s No. Though Amazon itself is a giant, its Instant Video service comes off as a sprout by comparison.
Amazon is reportedly building a live audio service for use with Alexa. As podcast and live audio services surged during 2020, Amazon expanded its musicsubscription service to include podcasts. In December, Amazon announced the acquisition of podcast publisher Wondery. Amazon didn’t immediately return CNET’s request for comment.
Amazon plans to roll out a self-branded TVin the US as early as October, Business Insider reported Thursday. The company already sells an AmazonBasics TV in India, launching that push late last year. Amazon didn’t immediately respond to a request for comment.
Khan has been an outspoken advocate for antitrust enforcement of Big Tech sinceher appointment as FTC chairin mid-2021. The FTC declined to comment. Amazon did not respond to a request for comment by time of publication.
Amazon denied the report’s conclusions. “These placements are clearly labeled to distinguish them from search results,” said the spokesperson. The Markup said its investigation analyzed results from more than 3,400 popular product searchers in January 2021. The investigation showed “Amazon was hogging the top spot,” according to The Markup.
“We do not comment on rumors and speculation,” an Amazon spokesperson said via email. This isn’t Amazon’s first foray into physical retail locations. The company launched itsAmazon Go convenience storesin 2018, and has also openedAmazon Go Grocery.
Amazon’srevenue continued to climbthis year in the second quarter, but not quite at the rate analysts expected. The reason might be that shoppers are finally getting out of the house. That beat forecasts of $12.22 in earnings per share, according to a Yahoo Finance survey of analysts. Prime Day was eventuallyscheduled for June 21-22, the earliest it’s been held. Amazon’s revenues grew more from the services vendors pay the company for than its own retail sales....
