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Amazon’s Q3 results beat expectations, reaches $43.7 billion 

Amazon’s Q3 results beat expectations, reaches $43.7 billion 

Amazon announced financial results for its third quarter that ended on 30th September, 2017. It posted revenue of $43.7 billion, up 34% from the last year, and net income of $256 million, which are very strong results when compared to the expectations of analysts.  

The operating cash flow last year was $15 billion, which has increased 14% to $17.1 billion. While free cash flow, which was $9 billion, decreased to $8.1 billion.  

Amazon’s revenue, which was $32.7 billion last year, has increased 34% to $43.7 billion. The revenue included $1.3 billion from Whole Foods Market, the grocer which Amazon acquired in August this year for $13.7 billion. 

Amazon Web Services (AWS) continues to be the most profitable unit for the company, and posted about 42% increase in sales to $4.58 billion.  

“In the last month alone, we’ve launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more. Because Alexa’s brain is in the AWS cloud, her new abilities are available to all Echo customers, not just those who buy a new device,” said Jeff Bezos, Amazon founder and CEO. “And it’s working — customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since the same time last year. With thousands of developers and hardware makers building new Alexa skills and devices, the Alexa experience will continue to get even better.” 

Also readIaaS Public Cloud Services Market Grew 31% in 2016 with Amazon in lead, followed by Microsoft, Alibaba: Gartner report 

The company also saw revenue growth in its online stores and Amazon Prime, the fast-streaming and video-streaming club.  

Amazon expects revenue growth between 28% to 38% for the fourth quarter in the range of $56 billion to $60.5 billion.  

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