Amazon Q3 beats expectations as net income hits $15bn
Looking ahead, Amazon expects fourth quarter net sales of between $181.5bn (£140.7bn) and $188.5bn (£146.1bn)
Amazon has revealed it has beaten its Q3 expectations as its revenues surged 11% to $158.9bn (£123.3bn), beating analyst predictions of $157.2bn (£121.9bn), while its net income hit $15.3bn (£11.9bn), up from $9.9bn (£7.7bn) last year.
It comes as the retail giant noted that North America segment sales increased 9% year-over-year to $95bn (£73.5bn), International segment sales increased 12% year-over-year to $35.9bn (£27.8bn) and its AWS segment sales increased 19% year-over-year to $27.5bn (£21.2bn).
Looking ahead, Amazon expects fourth quarter net sales of between $181.5bn (£140.7bn) and $188.5bn (£146.1bn) and operating income is expected to be between $16bn (£12.3bn) and $20bn (£15.4bn), compared with $13.2bn (£10.2bn) in Q4 2023.
Andy Jassy, Amazon president and CEO, said: “As we get into the holiday season, we’re excited about what we have in store for customers.
“We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations; and there’s so much more coming, from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.”
