Amazon Inc. is expected on Thursday to report a modest quarterly profit on a meager rise in sales, as the tech-and-retail company continues to work through the overhang from its breakneck growth during the pandemic.
Amazon’s core e-commerce business has been struggling with high costs and slowing growth in consumer demand as customers return to in-store shopping. The company is expected to say, when it reports earnings after markets close, that revenue in the second quarter rose 5.2% from a year earlier to $119 billion, while profit fell 83% to $1.3 billion, according to an average of analyst estimates on FactSet.
