Amazon posted a net profit of $79 million for the quarter ended September 30 compared the the net loss of $437 million in the same quarter last year. Here are five things we learned from their results and analyst call: 1) Breakneck growth in India The company had mentioned in the preceding quarter that India was its fastest growing geography in terms of sales and that it would double down investments in the country. This quarter, we got some numbers: The number of sellers on Amazon India has grown 250% year-on-year. Amazon has been adding 40,000 products per day this year and has 30 million products on it platform. So far, Amazon.in’s 2015 Diwali season sale is the company's largest ever, with daily sales of approximately four times what the had last year. In the third quarter, active customers on Amazon.in grew over 230% compared with last year. 2) 90% of sellers use Amazon's warehouse and logistics service Chief financial officer Brian T Olsavsky mentioned in the call that 90% of the sellers in Amazon India use the company's warehouse and logistics services, which means that Fulfiled by Amazon should be generating cash for Amazon India. Amazon also said that it has nearly tripled its fulfillment capacity, compared with last year. Earlier this month, Amazon opened a second fulfillment centre in Gujarat to handle demand during the Navratri festival demand. With this, Amazon.in has 21 fulfillment centres operational across 10 states in India with a total storage capacity of over five million cubic feet. 3) Amazon is hiring aggressively, globally Amazon expects to create…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...