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Amazon.com reports surge in Q3 profit

Share Source By

Dion Global

26 Oct 2018

Amazon.com Inc. reported third-quarter profit of USD 2.88 billion or USD 5.75 per share, up from USD 256 million or USD 0.52 per share last year.

Amazon's sales for the quarter jumped 29 per cent to USD 56.58 billion from USD 43.74 billion a year ago.

Sales from North America jumped 35 percent to $34.35 billion from $25.45 billion last year, while international sales rose 13 percent to $15.55 billion. Meanwhile, revenues of Amazon Web Services, Amazon's cloud service division, surged 46 percent to $6.68 billion.

"Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries," said Jeff Bezos, Amazon founder and CEO. "And we're not slowing down - Amazon Business is adding customers rapidly, including large educational institutions, local governments, and more than half of the Fortune 100."

Looking forward to the fourth quarter, the company expects sales of $66.5 billion to $72.5 billion. Analysts currently estimate revenues of $73.89 billion.