Balance sheet in focus: Amazon shares before US stock market start still lower: Amazon exceeds expectations | message
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The trend towards shopping on the Internet is helping the world’s largest online retailer Amazon to continue to do brilliant business during the Corona crisis. In the third quarter, sales climbed 37 percent over the same period last year to $ 96.1 billion, as the company announced on Thursday after the US stock market closed in Seattle. The profit even tripled to the previous record of 6.3 billion dollars.
“We see more customers than ever before buying gifts early,” said Amazon CEO Jeff Bezos. This is an indication that an “unprecedented” Christmas business is imminent. Amazon is forecasting revenues of between $ 112 billion and $ 121 billion for the current quarter, which corresponds to strong growth of between 28 and 38 percent year-on-year.
With its delivery services, Amazon had already benefited greatly in the previous quarters from the fact that the demand for orders on the Internet rose sharply during the pandemic.
Amazon’s lucrative cloud business with IT services and storage space on the Internet has recently continued to flourish. The AWS platform, which is used by many companies and apps, increased revenues here by 29 percent to $ 11.6 billion. Growth thus remained at the level of the previous quarter, but met expectations. The operating profit meanwhile increased by 56 percent to 3.5 billion dollars, which underlines once again what an attractive profit center Amazon’s cloud flagship is.
Overall, the quarterly figures clearly exceeded the forecasts of the Wall Street analysts, but investors reacted cautiously and even let the share turn into the red. However, the price has risen by more than 70 percent since the beginning of the year. The NASDAQ-listed Amazon share fell 3.94 percent on Friday to $ 3,084.42.
Finanzen.net editorial team / dpa-AFX
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