Amazon reported a healthy 13% growth in net sales to $143.1 B over $127.1 B in the third quarter of 2022. International sales also registered a 16% year-on-year growth to end at $32.1 B. Amazon Web Services (AWS) also reported an increase of 12% to end at $23.1 B for the same period. Brian Nowak, Amazon’s CFO, said that it was the highest quarterly operating income reported for the worldwide operations of the company. It has reported an increase of $8.7 B year-over-year.
The American multinational technology company focuses primarily on e-commerce, online advertising, cloud commerce, artificial intelligence, and digital streaming. The operating income of Amazon grew way more at 343% than the total sales when compared with the third quarter of last year. That comes close to four times the operating income reported by Amazon in the previous year. It has grown to $11.2 B in Q3 from $2.5 B. The operating profit of AWS was $7 B, up from third-quarter figures of $5.4 B a year ago.
Amazon CEO Speaks Of Robust Improvement In Delivery Speed
Amazon CEO Andy Jassy has stated that there has been robust growth in advertising revenue. Further, the delivery speed and the service costs were areas that revealed strong improvements. He said that it was the quickest delivery speed for Amazon customers in the history of the company spanning almost 3 decades.
The CEO said that the AWS lineup also continued its innovative approach and strived to distribute at a faster pace, particularly in the field of generative AI. He said that sellers using the platform will be able to avail of a fully automatic set of services in the field of supply chain.
The support offered includes pick up and shipping of inventory, handling of ground transportation and customs clearance, bulk store inventory, and direct delivery to customers. The company continues to be among the finest in delivery across zones. But it also brings with it the day-to-day challenge of meeting customer expectations.