Amazon predicted slower sales growth as Covid restriction eases


Amazon predicts slower sales growth in the third quarter as the Covid-19 boost eases

Lot of Customers turned to Amazon and some online platforms during the Covid-19 crisis, leading to the big record profits. But Amazon's growth is beginning to the level as the customers started to return to mortar and bricks shops Revenue climbed 27% to $113bn in its 2nd quarter, but this missed analysts' expectations. Amazon shares fell more than 7% in after-hours trade. Earlier in the Covid-19 pandemic times Amazon posted huge record profits, more than 200 million customers signed up to its Prime service, and recruited more than 500,000 new workers to keep up with the surging demand. Now easing of restrictions and vaccine rollouts have led consumers to go out to stores while also using click-and-collect services to compete with the speed delivery of online orders provided by Amazon and its peers.