Amazon Expands LTL Freight Services to $1.3T Global Market
Amazon has expanded its less-than-truckload (LTL) freight service, targeting the $1.3 trillion global third-party logistics market. The service supports shipments of one to six pallets with real-time tracking and automated scheduling, part of Amazon's Amazon Supply Chain Services. Despite the expansion, Amazon shares fell 0.41% in premarket trading.
Amazon has announced the expansion of its less-than-truckload (LTL) freight service, aimed at the $1.3 trillion global third-party logistics market . The service, offered through Amazon Supply Chain Services, provides real-time tracking and automated scheduling for shipments of one to six pallets.
The move positions Amazon as a major player in the logistics sector, competing with established carriers. Analysts expect robust growth with an average price target of $320.86 and earnings per share (EPS) growth of 8.3% and revenue growth of 16.8% year-over-year before the July 30 earnings report.
Despite the expansion's potential benefits, Amazon's shares experienced a minor decline of 0.41% in premarket trading due to broader headwinds in the tech sector.
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