Amazon sees 11 percent surge in net sales, 54 percent surge in income in Q3
Date
11/3/2024 7:50:00 AM
(MENAFN) Amazon experienced an impressive growth in its third-quarter financial results, with Net Sales rising by 11 percent and net income soaring by 54 percent. The US-based e-commerce and technology giant reported net sales of USD158.9 billion for the three-month period ending September 30, a significant increase from USD143 billion during the same timeframe last year.
The company saw a notable increase in its North American sales, which rose to USD95.5 billion compared to USD87.9 billion in the previous year. Additionally, the international segment also contributed to this growth, with sales increasing from USD32.1 billion to USD35.9 billion year-on-year, showcasing Amazon's strong performance across different markets.
Net income for Amazon jumped by an impressive 54.5 percent, reaching USD15.3 billion in the July-September period, up from USD9.9 billion in the same quarter of 2023. This remarkable growth in income highlights the company’s effective strategies and operational efficiencies in navigating the evolving e-commerce landscape.
Overall, Amazon's robust performance in the third quarter reflects its ability to capitalize on increasing consumer demand and market opportunities, positioning the company favorably for continued growth in the competitive e-commerce sector.
MENAFN03112024000045015839ID1108845676
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.