In the fiscal quarter ended Sept. 30, Amazon’s net sales totaled $70 billion, up from $56.6 billion in the same period in 2018. Both earnings and operating income experienced year-over-year declines, however: Operating income was down from $3.7 billion to $3.2 billion, while earnings dropped from $2.9 billion to $2.1 billion.
Amazon Web Services, the company’s cloud computing arm, reported gains in revenue, up to nearly $9 billion — a 35 percent increase year-over-year. During the third quarter, AWS formed a strategic partnership with Cerner, through which AWS’ analytics and artificial intelligence capabilities will be applied to Cerner’s platform to improve provider experience and patient outcomes.
According to the earnings release, the company expects to see revenue continue to increase in the fourth quarter. Net sales are projected to grow between 11 and 20 percent, to somewhere between $80 billion and $86.5 billion.
More articles on health IT:
Cleveland Clinic ED applies EMR interventions, reduces opioid prescriptions by 50%
Verily partners with 2 healthcare organizations to address population health
The key to Cleveland Clinic Innovations’ 20 years of patents, licensing agreements, spinoff companies: Razor-sharp market focus
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
