Amazon announces blockbuster third quarter results
Amazon’s third quarter revenues rose to $96.1 billion from $70 billion in the same period a year earlier.
The coronavirus pandemic created demand for household essentials and the e-commerce giant said it was already seeing evidence of early buying for Christmas gifts following its Prime Day event earlier this month.
"Amazon's Q3 surpassed every expectation on the top and bottom lines, particularly considering the company pushed Prime Day into Q4 this year," says Andrew Lipsman, eMarketer principal analyst.
"While it was clear that the pandemic driven shift to e-commerce would keep its topline elevated, it surprised by easily surpassing an already high bar.”
“More importantly, profits soared on strong growth in third party seller services and a big acceleration in the company’s high margin ad business as the digital ad market recovered,” he concludes.
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