Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business
Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business.
For the three months that ended on Sept. 30, the company said it earned $143.1 billion in revenue, a 13% increase compared to the same period last year. Amazon made $9.9 billion in profits, topping analysts‘ expectations and sending its stocks higher in after-hours trading.
In a prepared statement, Amazon CEO Andy Jassy said the company had a strong quarter as it improved its delivery speed and its advertising business grew robustly.
Consumers have been resilient in their spending despite rising interest rates and stubbornly high inflation, which has steadily eased since last year.
