Amazon, one of the largest e-commerce companies in the world, published its third-quarter report. Amazon continued to rise for the third quarter.
Amazon third-quarter report
While the pandemic affected many industries negatively, it caused a rapid rise in the e-commerce sector. E-commerce companies managed to increase their sales and revenues to a record level.
Announcing the third quarter results of 2020, Amazon continues to maintain its success during the pandemic period. The company’s sales increased by 37 percent compared to the same period last year, reaching $96.1 billion. In the third quarter of 2019, Amazon was able to earn $70 billion in revenue.
Amazon was among the companies that managed to increase its net profit during this period. While Amazon’s net profit was $2.1 billion in the same period last year, it increased to $ 6.3 billion in this period. The increase in revenues had a positive effect on share values. The third-quarter earnings per share of the giant name of the sector increased from $4.23 billion to $12.37 billion. For Amazon, the fourth quarter is expected to be on the rise.