Amazon's Q3 net sales jump 34 percent

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Amazon who are now tipping millions moving into new markets including Australia, has seen their shares rise 7% after reporting a 35% lift in USA revenues and a 29% lift in worldwide sales.

Revenues for the quarter were $43.7bn (£33.4bn), up from $32.7bn in Q3 2016.

Amazon reported net income of $256 million, or 52 cents per share, for the three months ending September 30.

The company attributed $1.3 billion of the revenue figure to Whole Foods, which Amazon bought on August 28.

Amazon's strong financial performance in 2017 briefly saw Mr Bezos replace Bill Gates as the world's richest person, before a dip in share prices saw him fall from top spot.

In terms of Wall Street estimates, analysts are looking for EPS of ($0.01) on $42.25 billion in revenues.

The e-commerce giant's service sales growth (44%) outpaced its product sales growth (29%), notes Profitero vice president of strategy and insights Keith Anderson.

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The delivery person never actually touches the door or lock, but instead communicates with the Cloud via the Amazon Key app. The new service along with the indoor security camera Amazon Cloud Cam will allow customers to unlock the house remotely.


The company said it expected between $56 and $60.5 billion of sales in the fourth quarter, which is always the company's biggest.

He called the growth in service sales along with Amazon's 59% year-over-year growth in subscription services in Q3 a positive, being more predictable sources of revenue. GlobalData Retail's Saunders said his firm sees Prime "as a critical tool to extend Amazon's customer reach, gather customer data, and to lock in loyalty in an increasingly fickle marketplace".

As is typical for the retailing giant, it took the earnings report as an opportunity to spotlight achievements, including three new Echo devices, five new Alexa-enabled devices, teaching Alexa to distinguish between two voices, and improvements in its AWS division.

"Customers have purchased tens of millions of Alexa-enabled devices..."

"With thousands of developers and hardware makers building new Alexa skills and devices, the Alexa experience will continue to get even better". Third quarter operating income includes a $21 million contribution from Whole Foods Market.

An Amazon Echo Dot is displayed during a program announcing several new Amazon products by the company, in Seattle.

As discovered by the website Voicebot.ai while using an Amazon Echo Show, the Jeopardy skill - based on the TV quiz show of the same name - has started offering a subscription model where users pay $1.99 per month to gain six extra clues each month. The Whole Foods deal includes 87,000 people who worked at the grocery chain, making up a big chunk of the employment growth this quarter. "Amazon owns and operates an ecosystem of platforms that reinforce each other internally and with customers", he said.

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