Amazon.com Inc. (NASDAQ: AMZN) late Thursday reported third-quarter revenues and profits that reflect an ongoing insatiable appetite among consumers for e-commerce services during the coronavirus pandemic.
Consumers, both in the U.S. and internationally, continue to view purchasing goods through e-commerce channels, like Seattle-based Amazon, as a means to prevent exposure to and spread of COVID-19.
Amazon reported net sales increased 37% to $96.1 billion in the third quarter, up from $70 billion during the same period last year.
Amazon’s operating income for Q3 reached $6.2 billion, compared to $3.2 billion in the same 2019 period.
In addition, the company’s net income increased to $6.3 billion in Q3, compared to $2.1 billion during the same quarter last year.
Meanwhile, Amazon has added 400,000 jobs this year alone and anticipates healthy online end-of-year holiday purchases.
“We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season,” Amazon CEO Jeff Bezos said in a statement.
The e-commerce retail and logistics company projected fourth-quarter net sales between $112 billion and $121 billion, or growth of 28% to 38% compared to the same period in 2019.
An analysts call will be held by Amazon officials at 5:30 p.m. EDT to discuss the Q3 results in more detail.
Click for more FreightWaves/American Shipper articles by Chris Gillis.
Related News
Amazon taps airline executive to oversee sort centers
Plus taps AWS as cloud provider as Amazon tightens grip on autonomous vehicles
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now