Amazon 3Q Sales Rise 15% to $127B - Modern Distribution Management

Amazon 3Q Sales Rise 15% to $127B

While sales increased over 3Q 2021, net income decreased to $2.9 billion, or $0.28 per diluted share, Amazon said.
Amazon

On Oct. 27, Amazon reported that 2022 third-quarter sales increased 15% to $127.1 billion, compared with $110.8 billion in third quarter 2021, according to a company news release.

Amazon doesn’t report specific earnings for its Amazon Business segment, which is ranked No. 2 on MDM’s 2022 Top Industrial Distributors list.

For 3Q 2022, the company’s North America segment sales increased 20% year-over-year to $78.8 billion. International segment sales decreased 5% year-over-year to $27.7 billion, but increased 12% excluding changes in foreign exchange rates, Amazon said.

Operating income decreased to $2.5 billion, compared with $4.9 billion in third quarter 2021. Net income decreased to $2.9 billion in 3Q 2022, or $0.28 per diluted share, compared with $3.2 billion, or $0.31 per diluted share, in the same quarter a year ago.

“In the past four months, employees across our consumer businesses have worked relentlessly to put together compelling Prime Member Deal Events with our eighth annual Prime Day and the brand new Prime Early Access Sale in early October. The customer response to both events was quite positive, and it’s clear that particularly during these uncertain economic times, customers appreciate Amazon’s continued focus on value and convenience,” said Andy Jassy, Amazon CEO. “We’re also encouraged by the steady progress we’re making on lowering costs in our stores fulfillment network, and have a set of initiatives that we’re methodically working through that we believe will yield a stronger cost structure for the business moving forward. There is obviously a lot happening in the macroeconomic environment, and we’ll balance our investments to be more streamlined without compromising our key long-term, strategic bets. What won’t change is our maniacal focus on the customer experience, and we feel confident that we’re ready to deliver a great experience for customers this holiday shopping season.”

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