Amazon shares fell around 7 per cent in after-hours trading as the US ecommerce giant posted underwhelming projections for the third quarter due to high spending on artificial intelligence. Chief executive Andy Jassy also warned of further uncertainty around President Donald Trump’s tariff policies and said he remained “unsure” who would absorb potentially higher costs over time.

The Seattle-based company posted net profit of $18.2 billion for the second quarter that ended June 30, compared with $13.5 billion in the same period last year.