Today, Amazon announced their third quarter financial results, showing a 24% increase to $70 billion. While revenue is up, profit is down, decreasing to $2.1 billion, or $4.23 per share.
This quarter’s sales included an all-new line up of Echo devices: the next generation Echo, Echo Dot with clock, Echo Show 8, Echo Buds, Echo Flex, and Echo Studio. Amazon also announced over 20 new Fire TV products, including the first Fire TV Edition soundbar; the all-new Fire TV Cube, the fastest and most powerful Fire TV ever; the first OLED Fire TV Edition smart TV; and the first Fire TV Edition smart TV with far-field Alexa voice control this quarter.
“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. And although it’s counter-intuitive, the fastest delivery speeds generate the least carbon emissions because these products ship from fulfillment centers very close to the customer — it simply becomes impractical to use air or long ground routes. Huge thanks to all the teams helping deliver for customers this holiday.”
Along with financial news, the earnings report included some information about Prime Video. The streaming service won 15 Emmy awards, with Fleabag receiving four Emmy awards, including Outstanding Comedy Series, as well as Outstanding Lead Actress in a Comedy Series and Outstanding Writing in a Comedy Series for Phoebe Waller-Bridge. This quarter, Prime Video also debuted several new original series including The Boys and Carnival Row.
We’ll be back with more updates from Amazon when they begin their quarter 3 earnings call this afternoon.
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