Amazon.com Announces Third Quarter Results

*Net sales increased 13% to $143.1 billion in the third quarter, compared with $127.1 billion in third quarter 2022. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with third quarter 2022.
-North America segment sales increased 11% year-over-year to $87.9 billion.
-International segment sales increased 16% year-over-year to $32.1 billion, or increased 11% excluding changes in foreign exchange rates.
-AWS segment sales increased 12% year-over-year to $23.1 billion.
*Operating income increased to $11.2 billion in the third quarter, compared with $2.5 billion in third quarter 2022.
-North America segment operating income was $4.3 billion, compared with an operating loss of $0.4 billion in third quarter 2022.
-International segment operating loss was $0.1 billion, compared with an operating loss of $2.5 billion in third quarter 2022.
-AWS segment operating income was $7.0 billion, compared with operating income of $5.4 billion in third quarter 2022.
*Net income increased to $9.9 billion in the third quarter, or $0.94 per diluted share, compared with $2.9 billion, or $0.28 per diluted share, in third quarter 2022.
-Third quarter 2023 net income includes a pre-tax valuation gain of $1.2 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $1.1 billion from the investment in third quarter 2022.

“We had a strong third quarter as our cost to serve and speed of delivery in our Stores business took another step forward, our AWS growth continued to stabilize, our Advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,” said Andy Jassy, Amazon CEO. “The benefits of moving from a single national fulfillment network in the U.S. to eight distinct regions are exceeding our optimistic expectations, and perhaps most importantly, putting us on pace to deliver the fastest delivery speeds for Prime customers in our 29-year history. The AWS team continues to innovate and deliver at a rapid clip, particularly in generative AI, where the combination of our custom AI chips, Amazon Bedrock being the easiest and most flexible way to build and deploy generative AI applications, and our coding companion (CodeWhisperer) allowing enterprises to have the equivalent of an experienced engineer who understands all of their proprietary code is driving momentum with customers, including adidas, Booking.com, GoDaddy, LexisNexis, Merck, Royal Philips, and United Airlines, all of whom are starting to run generative AI workloads on AWS. Between AWS re:Invent and our 29th holiday shopping season, this is a particularly action-packed time of year at Amazon and we’re excited for what’s to come.”
details at: https://ir.aboutamazon.com/news-release/news-release-details/2023/Amazon.com-Announces-Third-Quarter-Results/

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