Amazon posts $9.9 billion in profits in Q3
The company earned $143 billion, posting a 13% increase YoY, exceeding analyst expectations of $141 billion
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Published: Oct 27, 2023 8:40 AM | 1 min read
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E-commerce giant Amazon has released its financial results for the quarter ended September 30, 2023.
In Q3, the company revealed that its revenue was $143.1 billion, posting a 13% increase YoY and rising above analyst expectations of $141.4 billion. Its profits stood at $9.9 billion.
The projections stand between $160 billion and $167 billion.
CEO Andy Jassy reportedly said that the strong quarter can be attributed to the company’s ad business growth.
Revenue from Amazon Web Services stood at $23.1 billion compared to analyst expectations of $23.09 billion. Its operating income was $6.98 billion, the highest since the first quarter of 2022.
The company’s central online stores reportedly posted $57.3 billion. Ad sales went up f26% to $12 billion.
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