Amazon Inc. reported net income of $256 million for the quarter ended September 30, 2017 (Q3 2017), marginally up from a net income of $252 million in the corresponding quarter last year. The company's operating income, however, was down 40% year-on-year (YoY) to $347 million for the quarter from $575 million in Q3 2016. This is significant because in the current quarter Amazon's operating income also includes income of $21 million from Whole Foods Market, which it had acquired on August 28, 2017. While answering an analyst question regarding losses in the international retail segment, during the company's earnings call, Amazon's CFO Brian Olsavsky said that it was primarily due to the investments in India. "We launched Prime there (India) a year ago, if you remember, and we've had more Prime members join in India than in any other country in the first 12 months. We have free shipping on 10 million items there and we're continuing to add benefits - Prime Video, Amazon Family." He also mentioned that they're expanding both Prime Music and Amazon Business in India. "So, a lot of positive momentum and investment going on in India, very pleased with that. We also recently announced Echo and Alexa are available in India." Currently, Amazon’s total investment commitment in India stands at $5 billion: the $3 billion announced in June 2016, plus the $2 billion investment announced back in July 2014, which the company has already completed in phases over the past two years. It has also been investing heavily in…
- More people in India support surveillance tech than those critical of it: Study March 31, 2023
- The Government, the Platform, the Individual: Who’s Responsible for Keeping the Internet Safe? #NAMA March 31, 2023
- MediaNama Daily: India’s Govt has Eyes Everywhere March 31, 2023
- Is age-verification the answer to protecting children from online harms? #NAMA March 30, 2023
- Here are 6 ways the Indian government is collecting your facial data March 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
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...
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...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
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...
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...