Q4 revenue likely to take a hit over extended festive season: Amazon

For the fourth quarter ending in December 31, Amazon said it was expecting its net sales to be between $80 billion and $86.5 billion

Global e-commerce major Amazon is expecting its December quarter (Q4) revenue to take a hit as the Diwali festive season in India extended over two quarters. Other factors expected to affect sales are acquisitions of Whole Foods and Souq, said Brian T Olsavsky, senior vice-president and chief financial officer of Amazon during an earnings call on Thursday.

“We are factoring that in this year, that’s just something we’re expecting,” he said. “Then, there are also two other issues — the Diwali holiday in India was all in Q4 last year and a bit of it was in Q3 this year.