Amazon shares have fallen over 5 per cent after it projected profit that missed analysts’ estimates, and ramped up its spending to meet demand for artificial intelligence services.
Operating income will be $US11.5 billion ($17.7 billion) to $US15 billion in the period ending in September, the company said in its earnings statement. Analysts, on average, projected $US15.7 billion. Third-quarter sales will be $US154 billion to $US158.5 billion, or to grow between 8 per cent and 11 per cent, compared with an average estimate of $US158.4 billion.
