Amazon reports $2.9B Q3 net income

Amazon reported its first quarterly profit of the year Oct. 27, but profits are down 9 percent year over year and the company still has a multibillion-dollar net loss for 2022.


Five notes:

1. Amazon reported $3 billion net loss for the year through the nine months ending Sept. 30, according to a news release from the company. For the third quarter, Amazon reported $2.9 billion net income, down $3.2 billion year over year.

2. Amazon reported net sales increased 15 percent for the quarter to $127.1 billion, with North American sales jumping 20 percent year over year to $78.8 billion.

3. Amazon Web Services sales were up 27 percent year over year to $20.5 billion, and AWS operating income jumped to $5.4 billion.

4. In the fourth quarter, Amazon expects sales to hit $140 billion to $148 billion, which would be a 2 percent to 8 percent increase over the same period last year.

5. Amazon reported having 1.54 million employees, up 5 percent from the third quarter last year. Amazon started the year with 1.6 million employees but shed about 100,000 in the first half of the year.


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