Retailer beats earnings estimates as revenue increases 37% to $96.1 billion.
Amazon has beat its earnings estimates for the third quarter – despite the lucrative Prime Day shifting dates – as it continues to prosper during the pandemic.
The retailer’s sales for the quarter ending September 30 increased 37% to $96.1 billion – above analysts’ estimates of around $92.7 billion, reported Fashion United.
Meanwhile, its net income grew $6.3 billion in the third quarter, compared with $2.1 billion last year.
Of course, the figures don’t include Amazon’s hugely popular Prime Day, which was moved to October from its traditional July slot due to COVID-19.
Amazon expects fourth quarter revenue to fall between $112-121 billion – this would mark a growth of between 28% and 38% compared with Q4 2019.
However, the retailer did warn of a potential $4 billion hit from costs related to the pandemic in Q4.
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