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1

ID: 219086

URL: https://www.theverge.com/2021/10/28/22751331/amazon-spending-billions-holiday-shipping-delays-q3-2021-earnings

Date: 2021-10-28

Amazon will spend ‘several billion dollars’ to avoid holiday shipping delays

Amazon wants to avoid holiday shipping delays as much as you do. The company said today that it plans to spend several billion dollars to avoid problems during the holidays, which might extend from product delivery issues to keeping items in stock. The money will be spent on increased pay for workers, heightened shipping costs, and mitigating supply chain issues. Itll be expensive for us in the short term, but its the right prioritization for our customers and partners, Amazon CEO Andy Jassy said today in the companys third-quarter earnings release. The big spending comes as both a promise and a warning. Amazons earnings disappointed investors with a significant dip in quarterly profits from last year. Thats largely due to increased spending across the board — the company spent $3.8 billion more on fulfillment, $3.3 billion more on tech costs, and $2.6 billion more on marketing, to name just a few expenses — which ate into the quarters $110.8 billion in revenue, which was up 15 percent from last year. Jassy, who was only installed as CEO on July 5th, said that these expenses were necessary to deliver good service to customers. Weve always said that when confronted with the choice between optimizing for short-term profits versus whats best for customers over the long term, we will choose the latter, he said. Jassy called the expenses, extraordinary investments across our businesses to satisfy customer needs.