Amazon CFO: Project Leo launch delayed, weighing on Q4 guidance

The timing mismatch is the real story: Project Leo's costs land in the fourth quarter while its launch slips into the first, so the spending is booked before any offsetting contribution. That gap is what makes a delayed launch a guidance issue rather than a routine schedule slip. How much of the fourth-quarter softness traces to this single program, and whether the cost profile eases once the launch clears, is the open question worth watching.