More Amazon miss context-setting
Technology has fared worse than most industries this quarter in meeting investors’ earnings expectations, with about a third of companies missing estimates.
Amazon added 17 new fulfillment centers this year, and that overhead has weighed on margins, Chief Financial Officer Tom Szkutak said yesterday in a conference call. It’s also building out the infrastructure for its Web services offerings.
“We’ve added a lot of capacity to support those growth rates,” Szkutak said.