Amazon announces third quarter earnings. The shopping giant posted his 15% revenue increase year-over-year.
Amazon also revealed that North American sales were up 20% in the quarter, while international sales were down about 5%.
“Over the past four months, our Consumer business employees have worked tirelessly to put together some compelling Prime Member deal events, including our 8th annual Prime Day in early October and our new Prime Early Access Sale. Customer reaction to both events has been very positive, and customers appreciate Amazon’s continued focus on value and convenience, especially during this uncertain economic time. “We are also encouraged by the steady progress we are making in reducing the costs of our store fulfillment network, and we believe it will result in a stronger cost structure to drive our business forward.” We are systematically working on a series of initiatives that are currently underway.There is clearly a lot going on in the macroeconomic environment and we need to balance the balance to make our investments more rational without undermining our key long-term strategic bets. What remains unchanged is our maniacal focus on the customer experience, and we are confident that we are ready to provide our customers with an amazing experience this holiday shopping season.”
More information on Amazon’s third quarter earnings can be found on Amazon’s website at the link below.
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