Amazon's quarterly revenue jumps 29 percent

  • 28/10/2016
(File)
(File)

Amazon.com Inc has reported a 29 percent rise in quarterly revenue, boosted by a big jump in sales from its Prime Day annual shopping festival, strong back-to-school shopping and its market-leading cloud services business.

The world's biggest online retailer said its net sales rose to US$32.71 billion (NZ$45.8b) in third quarter ended September 30 from US$25.36 billion a year earlier.

Analysts had expected net sales of US$32.69 billion (NZ$35.5b), according to Thomson Reuters I/B/E/S.

Amazon's net income rose to US$252 million (NZ$353m), or 52 US cents per share, from US$79 million (NZ$110m), or 17 US cents per share, a year earlier, marking the company's sixth straight profitable quarter.

Revenue from Amazon Web Services, the company's cloud services business, surged 55 percent to US$3.23 billion (NZ$4.5), beating the average estimate of US$3.19 billion, according to market research firm FactSet StreetAccount.

Amazon said in July that customers placed 60 percent more orders worldwide in its second Prime Day sale despite technical glitches but it did not provide sales figures at the time.

Reuters

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