Profit dipped for online retail giant Amazon in the third quarter, the company reported on Thursday.
The drop reflected the absence of a substantial investment gain recorded a year earlier, while net sales increased 12%.
Third-quarter net income was $20.69 billion, or $1.89 per share, compared with $21.19 billion, or $1.95 per share, in the prior-year quarter.
Net sales for the quarter increased 12% to $201.94 billion.
The decline in net income primarily reflected the absence of $9.5 billion in pre-tax gains from Amazon’s investment in Anthropic, which boosted results in the year-ago quarter.
Operating income rose 61% to $28.08 billion from $17.41 billion a year earlier.
Amazon Web Services (AWS)…
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