Amazon has announced its Q3 2020 results for the period ending September 30, 2020.
Net sales increased 37% to $96.1bn in Q3 2020, compared with $70bn in Q3 2019. While operating income increased to $6.2bn, compared to $3.2bn in Q3 2019; and net income increased to $6.3bn, from $2.1bn in last year’s quarter.
Its North America net sales totalled $59.4bn, up from $42.6bn in Q3 2019. Operating expenses grew to $57.1bn, from $41.4bn last year. While operating income increased to $2.3bn, from $1.3bn in Q3 2019.
International net sales amounted to $6.9bn to $25.2bn in Q3 2020, up from $18.3bn in 2019. Operating expenses increased to $24.8bn, from $18.7bn in Q3 2019; as operating income recovered to $407m, compared to the loss of $386m in Q3 2019.
Net sales for Amazon Web Services increased to $11.6bn in Q3 2020, from last year’s $9bn; while operating expenses increased to $8.1bn, from $6.7bn in Q3 2019 and operating income rose to $3.5bn, from $2.3bn in Q3 2019.
Jeff Bezos, Amazon founder and CEO, said, “Two years ago, we increased Amazon’s minimum wage to $15 for all full-time, part-time, temporary, and seasonal employees across the U.S. and challenged other large employers to do the same. […] Offering jobs with industry-leading pay and great healthcare, including to entry-level and front-line employees, is even more meaningful in a time like this, and we’re proud to have created over 400,000 jobs this year alone. We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season.”
Amazon’s Prime Day kicked-off the holiday shopping season on October 13-14 in 19 countries, which Amazon said were the two biggest days ever for small and medium businesses in Amazon’s stores. Third-party sellers surpassed $3.5bn in sales on Prime Day, a nearly 60% Y-o-Y increase, growing more than Amazon’s retail business. Amazon Prime was also launched in Turkey, bringing the total number of countries with Prime to 20.
Source: Amazon
