Amazon sales up 24% in mixed Q3 report

Amazon sales up 24% in mixed Q3 report

Amazon sales rose 24% to $70 billion (£54.5bn) in Q3 2019 compared with $56.6bn (£44bn) in the same period last year in an otherwise mixed quarter for the company. 

The firm's operating cash flow increased 33% to $35.3bn (£27.5bn), while free cash flow went up from $15.4bn (£12bn) to $23.5bn (£18.3bn), according to its financial results for the quarter ending September 30.

However, operating income fell to $3.2bn (£2.5bn), compared with $3.7bn (£2.9bn) 12 months ago, and net income decreased to $2.1bn (£1.6bn), or $4.23 (£3.29) per share, compared with net income of $2.9bn (£2.3bn), or $5.75 (£4.48bn) per share, in Q3 2018.

“We are ramping up to make our 25th holiday season the best ever for Prime customers — with millions of products available for free one-day delivery,” said Jeff Bezos, Amazon founder and CEO. “Customers love the transition of Prime from two days to one day — they’ve already ordered billions of items with free one-day delivery this year. It’s a big investment, and it’s the right long-term decision for customers."

In September, Amazon Music announced the launch of Amazon Music HD, a new tier of premium quality music with more than 50 million songs in high definition, and millions of songs in ultra-high definition, the highest quality streaming audio available. The service is now available to stream in the US, the UK, Germany, and Japan.

Amazon also introduced an all-new line up of Echo devices during the period: the next generation Echo, Echo Dot with clock, Echo Show 8, Echo Buds, Echo Flex, and Echo Studio. 

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