Amazon signals more spending even as growth slows

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Amazon signalled that it would be ramping investment back up in 2019, even as its stellar
revenue growth slows, sending its shares lower.

The online retailer delivered its third consecutive record quarterly profit at the end of 2018
but raised alarm with a cautious first-quarter sales forecast, which it pinned on regulatory
changes in India, among other factors.

Its core North American retail business is also growing more slowly, now that Amazon owns the grocery chain Whole Foods.

Shares fell more than 5 per cent in after-hours trading to $1,635 after chief financial officer
Brian Olsavsky told analysts on a conference call that the company would spend more in 2019. Amazon pulled back on hiring and capital expenditures last year, a move that boosted profits.

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