Amazon reports 29 percent rise in Q3 net sales

Amazon.com’s third quarter net sales increased 29 percent to 32.7 billion dollars compared with 25.4 billion dollars in third quarter 2015. The company said, favourable impact from year-over-year changes in foreign exchange rates throughout the quarter on net sales was 52 million dollars.

Operating income was 575 million dollars compared with 406 million dollars in third quarter 2015. Net income was 252 million dollars or 0.52 dollar per diluted share, compared with 79 million dollars or 0.17 dollar per diluted share, in third quarter 2015.

Fourth quarter net sales are expected to be between 42 billion dollars and 45.5 billion dollars, or to grow between 17 percent and 27 percent compared with fourth quarter 2015. This guidance anticipates approximately 60 basis points of favourable impact from foreign exchange rates. Operating income is expected to be between 0 dollar and 1.25 billion dollars, compared with 1.1 billion dollars in fourth quarter 2015.

Picture:Amazon.com