Amazon's Quarterly Revenue Is Up 34 Percent Following Whole Foods Acquisition

28 October, 2017, 01:06 | Author: Franklin Nunez
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But here's why Amazon's net sales trend is particularly exciting: The 29% year-over-year increase in adjusted net sales marked a sharp acceleration from the 25% growth in net sales Amazon reported in its second quarter.

Profit for the quarter was $256 million, up slightly from $252 million a year ago while revenue jumped 34 percent to $43.7 billion for the company which has grown from its online retail roots to cloud computing, streaming video, artificial intelligence and more.

Operating income decreased 40 percent to 347 million dollars in the third quarter, which includes income of 21 million dollars from Whole Foods Market.

Sales continued to surge for the e-commerce giant as it looked ahead to the holiday season. Here's what to expect from the king of e-commerce.

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He called the growth in service sales along with Amazon's 59% year-over-year growth in subscription services in Q3 a positive, being more predictable sources of revenue. "Of those services, Subscriptions (which includes Prime) and Other (which includes advertising) are its fastest-growing businesses".

O'Shea also noted revenue growth and operating income at AWS "more than offset" the loss Amazon took on through investments in its global business.

Amazon's Alexa-enabled devices remain a hit with customers.

As is typical for the retailing giant, it took the earnings report as an opportunity to spotlight achievements, including three new Echo devices, five new Alexa-enabled devices, teaching Alexa to distinguish between two voices, and improvements in its AWS division.

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The updated Amazon Echo offers several options for colored interchangeable fabric finishes. She says that CEO John Mackey's recent comments at an industry event may signal "that the culture clash between Amazon and Whole Foods has been challenging so far". Given Amazon's appetite for growth - even when it comes at the expense of near-term profitability - it seemed logical that Amazon might spend a significant sum integrating Whole Foods' operations into its business.

With numbers like these, it's no surprise Amazon stock traded higher in after-hours trading following the company's third-quarter earnings release.

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David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Amazon wasn't one of them!

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Amazon now pays developers out of its own pocket to create the skills, which Echo users are then able to download and install onto their Alexa at no charge.


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