Seatle — Amazon.com on Thursday reported its first quarterly profit decline in more than two years, missing analysts’ estimates, amid higher spending to speed package delivery. Shares fell more than 7% in extended trading.
Third-quarter earnings were $4.23 a share, compared with $5.75 in the period a year earlier, the Seattle-based company said in a statement. Analysts, on average, estimated $4.59 a share, according to data compiled by Bloomberg. Amazon projected operating income of $1.2bn to $2.9bn in the current quarter compared with analysts’ estimate of $4.31bn...
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