Amazon reports $252m income and $32.7bn sales for Q3
Amazon has reported a net income of $252m and sales of $32.7bn for the third quarter (Q3) of 2016. The corresponding figures for 2015 were $79m and $25.4bn – so the latest quarterly results mark an impressive year-on-year gain.
However, for the previous three quarters Amazon had racked up record profits each time – and now that streak is over. The $252m profit is well below the $857m achieved in Q2.
In a press call with reporters, Amazon Chief Financial Officer Brian Olsavsky noted that Amazon typically does post a smaller profit in Q3 as it invests more money in gearing up its capacity to handle the peak holiday season. In 2016, Amazon has opened a record number of new warehouses in preparation for what it is expected to be the biggest peak season yet.
