Amazon profits drop, sales increase

Net income for Amazon has fallen to $2.1 billion in the third quarter of the financial year from $2.9bn in the same period of 2018. Operating income also fell to $3.2bn in the quarter from $3.7bn in Q3 2018.

Net sales were up 24% to $70 billion as against $56.6bn in Q3 last year.

Jeff Bezos, Amazon founder and CEO commented:“We are ramping up to make our 25th holiday season the best ever for Prime customers — with millions of products available for free one-day delivery.

“Customers love the transition of Prime from two days to one day — they’ve already ordered billions of items with free one-day delivery this year. It’s a big investment, and it’s the right long-term decision for customers. And although it’s counterintuitive, the fastest delivery speeds generate the least carbon emissions because these products ship from fulfillment centers very close to the customer — it simply becomes impractical to use air or long ground routes. Huge thanks to all the teams helping deliver for customers this holiday,” he added.

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