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Amazon's Q3 net sales jump 34 percent

By Prachi Singh

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Business

For its third quarter ended September 30, 2017, Amazon.com said that net sales increased 34 percent to 43.7 billion dollars and includes 1.3 billion dollars from Whole Foods Market, which Amazon acquired on August 28, 2017. Excluding Whole Foods Market and the 124 million dollars favourable impact from year-over-year changes in foreign exchange rates, net sales increased 29 percent.

Operating income decreased 40 percent to 347 million dollars in the third quarter, which includes income of 21 million dollars from Whole Foods Market. Net income was 256 million dollars in the third quarter or 0.52 dollar per diluted share compared with 252 million dollars or 0.52 dollar per diluted share, in third quarter 2016.

Q4 net sales expected to grow between 28 to 38 percent

Net sales for the fourth quarter, the company said, are expected to be between 56 billion and 60.5 billion dollars or to grow between 28 percent and 38 percent compared with fourth quarter 2016. This guidance includes approximately 1,000 basis points of impact to the company’s year-over-year growth rate from Whole Foods Market.

The company added that this guidance also anticipates a favourable impact of approximately 1.2 billion dollars or 270 basis points from foreign exchange rates. Operating income is expected to be between 300 million and 1.65 billion dollars compared with 1.3 billion dollars in fourth quarter 2016.

Picture:Amazon website

Amazon