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Amazon third quarter sales up 29% to $56.6 bn

29
Oct '18
Courtesy: Amazon
Courtesy: Amazon
Net sales at Amazon increased 29 per cent to $56.6 billion in the third quarter (Q3) ending September 30, 2018, compared to $43.7 billion in third quarter 2017. Net income increased to $2.9 billion in the third quarter, compared to net income of $256 million in third quarter 2017. Common shares outstanding totaled 507 million at the end of the quarter.
 
Operating cash flow increased 57 per cent to $26.6 billion for the trailing twelve months, compared with $17.0 billion for the trailing twelve months ending September 30, 2017. Free cash flow increased to $15.4 billion for the trailing twelve months, compared with $8.0 billion for the trailing twelve months ending September 30, 2017. 
 
Free cash flow less lease principal repayments increased to $8.1 billion for the trailing twelve months, compared with $3.5 billion for the trailing twelve months ending September 30, 2017. Free cash flow less finance lease principal repayments and assets acquired under capital leases increased to an inflow of $5.4 billion for the trailing twelve months, compared with an outflow of $1.1 billion for the trailing twelve months ending September 30, 2017.
 
Operating income increased to $3.7 billion in the third quarter, compared with operating income of $347 million in third quarter 2017.
 
"Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries," said Jeff Bezos, Amazon founder and CEO. "And we're not slowing down - Amazon Business is adding customers rapidly, including large educational institutions, local governments, and more than half of the Fortune 100. These organisations are choosing Amazon Business because it increases transparency into business spending and streamlines purchasing, with increased control. The team is doing a fantastic job building and innovating for customers."
 
During the quarter, Amazon India announced the launch of Amazon.in in Hindi. Customers can now read detailed product information, find deals and discounts, place the orders, pay for their orders, manage their account information, track their orders and view order history conveniently in Hindi.
 
Meanwhile, Amazon Fashion continues to expand and enhance its selection with a variety of styles for customers including partnering with J.Crew to launch J.Crew Mercantile on Amazon Fashion, bringing Calvin Klein's re-launch of its new denim assortment to customers, and adding a wide collection from Ralph Lauren's CHAPS brand. (PC)

Fibre2Fashion News Desk – India


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