Amazon Goes from Red to Black in Q3
October 23, 2015,
SEATTLE-Thanks to strong gains in sales and gross margin, Amazon.com posted third-quarter net income of $79 million, compared to a net loss of $437 million in last year’s third quarter.
Net sales in the quarter, which ended on Sept. 30, jumped 23.2 percent to $25.4 billion. In a conference call to financial analysts, Brian Olsavsky, senior vice president and CFO, said revenue in Amazon’s North America segment grew 28 percent to $15 billion, and the Amazon web services segment skyrocketed by 78 percent to $2.1 billion.
Gross margin made a 501-basis-point gain to 33.9 percent. Operating expenses rose 26.2 percent in dollars and 76 basis points as a percentage of sales, to 32.3 percent.
Amazon finished 15th on HFN’s list of the top 50 home furnishings retailers, with $3 billion in sales of home products in 2014, or 27.1 percent ahead of 2013 home sales.