Amazon Recorded $32.7 Billion In Revenue For Q3

Amazon's stock has fallen in value by about 7 percent at its most (as of now it's around 4.5 percent) today in after hours trading, following the company's third quarter earnings call that has taken place earlier this afternoon. Surprisingly, even though Amazon's stock has gone down, they're not down on sales or revenue compared to the same time last year. According to the report, Amazon's Net Sales have increased to $32.7 Billion in the third quarter, which is up 29 percent from the $24.5 Billion that they recorded in Net Sales for Q3 last year, which is a nice little bump when it comes to their sales numbers, especially when you consider that analysts were predicting their Net Sales would come in at about $32.6 Billion.

In addition to increased net sales, Amazon has also upped its Operating Cash Flow, meaning that how much money they're generating from the incoming revenue has increased. In Q3 of this year and following the trailing 12 months, their OCF has been increased to a total of $14.6 Billion, a number which is up by 49 percent from the OCF they had recorded around this time last year. Amazon's AWS Revenue is also up from what analysts were expecting as it's been recorded at $3.23 Billion instead of the $3.13 Billion that was suggested.

Amazon also saw increases in both Operating Income and Net Income, which were recorded at $575 Million (up from $406 Million this time last year) and $252 Million (up from $79 Million this time last year) respectively. Although Amazon did launch some new IoT products this year with the latest Echo Dot and the Amazon Tap speakers, the majority of revenue is reportedly coming from users who subscribe to their Prime service, as well as the customers from their AWS cloud computing business. In addition to reporting the company's numbers, CEO Jeff Bezos also hinted at some exciting upcoming stuff that has to do with the Alexa software, more specifically in regards to Amazon working on some potentially new features for Alexa, telling the public that they should "wait and see what surprises the team is working on." This suggests that Amazon has some cool new tricks for Alexa up its sleeves, and for those who have Alexa enabled devices this is likely to be an exciting time.

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Justin Diaz

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Lover of food, craft beer, movies, travel, and all things tech. Video games have always been a passion of his due to their ability to tell incredible stories, and home automation tech is the next big interest, in large part because of the Philips Hue integration with Razer Chroma. Current Device: Google Pixel.
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