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Amazon Announces Explosive Third-Quarter Earnings

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Amazon Announces Explosive Third-Quarter Earnings

Amazon Announces Explosive Third Quarter Earnings

In the tech giant’s second full quarter during the coronavirus pandemic, Amazon has just announced explosive third-quarter earnings. To start, net sales were up to $96.1 billion in the third quarter, up 37% from the second quarter. Additionally, operating income was also up to $6.2 billion from $3.2 billion in the third quarter of 2019. You should also note that net income was up to $6.3 billion in the third quarter, as opposed to $2.1 billion in the third quarter of 2019.

Amazon CEO Jeff Bezos also touted the fact that this year alone, Amazon has created more than 400,000 jobs, and all of those individuals make at least $15.oo an hour. In a statement, Jeff Bezos said, “Two years ago, we increased Amazon’s minimum wage to $15 for all full-time, part-time, temporary, and seasonal employees across the U.S. and challenged other large employers to do the same. Best Buy and Target have stepped up, and we hope other large employers will also make the jump to $15. Now would be a great time. Offering jobs with industry-leading pay and great healthcare, including to entry-level and front-line employees, is even more meaningful in a time like this, and we’re proud to have created over 400,000 jobs this year alone. We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season. Big thank you to our employees and selling partners around the world who’ve been busy getting ready to deliver for customers this holiday.”

If you believe that you are ready to start your Amazon business, or you have any additional questions about how to improve your business and maximize your profits this holiday season, please do not hesitate to give us a call. We are always here to help.

Contact Our Team

If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States. All Amazon sellers should have an accountant they can trust. If you are looking to expand your business, or even form a new one, do not hesitate to reach out to our knowledgeable team today.

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