E-commerce conglomerate Amazon on Thursday reported year-on-year third-quarter revenue growth of 13% to $143 billion and profit of 241% to $9.9 billion.
Chief Executive Officer (CEO) Andy Jassy in the press release attributed the strength of the third quarter results “to advances in cost and speed of delivery, robust advertising growth and financial generation resources”.
In particular he mentioned “the benefits of moving from a single US ordering network to eight different regions”which, he emphasized, “exceeded optimistic expectations and, perhaps more importantly, put Amazon on a path to deliver to Prime customers at a speed never seen before” in its 19-year history.
Since January and through the end of September, Amazon has posted a profit of $19.8 billion, compared to a year-over-year loss of $3 billion.
Source: DN
