Amazon reported a 37% increase in revenue

News

Amazon reported a 37% increase in revenue

04.11.2020 News

Shares of Amazon, which rose by 73.8% since the beginning of the year (more than the growth of Apple, Microsoft, Google and Facebook), fell 2% after closing trading on Thursday, when the company released a report for the 3rd quarter, which ended September 30.

Amazon set a new revenue record, e-commerce increased sales by 57% (compared to the same quarter last year), and the cloud business Amazon Web Services by 29%.

Amazon’s quarterly earnings per share rose to $ 12.37 from $ 4.23 a year ago and significantly exceeded analysts’ forecast of $ 7.41 earnings per share.

Total net income increased to $ 6.3 billion in the third quarter, compared to $ 2.1 billion in third quarter of 2019.

Total revenue for the quarter reached a new record, up 37% from last year’s value to $ 96.15 billion also easily exceeding the average analytical forecast of $ 92.7 billion.

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