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Amazon net income up marginally QoQ to $2.8 billion

Amazon reported a net income of $2.88 billion in the quarter ended September 2018, up 1026% compared to $256 million in the same quarter last year. Its total operating expenses grew from $43.3 billion in Q3 2017 to $52.8 billion in this quarter. The total non-operating income swelled to losses of $334 million, up from losses of $31 million in the same quarter of 2017. Its total income before taxes was $3.39 billion, up 972% from $316 million in the same quarter last year.

  • Total comprehensive income was $2.78 billion as compared to $361 million in the same quarter of FY18.
  • In North America, its operating income swelled from $112 million in Q3FY18 to $2.03 billion in the quarter ended September 2018.
  • Internationally, it reduced its losses from $936 million in Q3FY18 to $385 million in Q3 2018.
  • AWS operating income was at $2.07 billion for the 2018 quarter, up nearly double from $1.17 billion in Q3FY18.  
  • Consolidated net income was $2.88 billion this quarter, up significantly from $256 million in the same quarter last year.

Significant updates this quarter

  • Acquired PillPack, an online pharmacy
  • A $10 million investment in Closed Loop Fund for recycling infrastructure in the US.

Other financials

  • Operating cash flow increased 57% YoY to $26.6 billion for the last 12 months.
  • Free cash flow increased to $15.4 billion for the last 12 months, compared with $8.0 billion for the same period last year.
  • Common shares outstanding plus shares underlying stock-based awards totaled 507 million on September 30, 2018, compared with 503 million a year ago.
  • Net sales increased 29% to $56.6 billion, compared with $43.7 billion in the third quarter in FY2018.  
  • Operating income increased to $3.7 billion, compared to $347 million in the same quarter last year.
  • Net income increased to $2.9 billion compared to $256 million in Q3FY18.
  • Amazon Business has reached $10 billion annual sales run rate. It is adding large educational institutions, local governments, and more than half of the Fortune 100 companies, Jeff Bezos, founder and CEO said.
  • Devices: introduced new Echo devices, new Fire HD 8 tablet, the new Kindle Paperwhite, Fire TV Recast, Fire TV Stick 4K, Stick Up Cam.
  • Launched Amazon.com.tr in Turkey, offering millions of products across 15 categories from over 1,000 local sellers.

Alexa updates

  • Alexa compatible smart home devices increased 5-fold to 20,000 from 3,500 brands.
  • Alexa AI updates: the application of deep neural networks to detect challenging acoustic phenomena such as whispered speech and anomalous events like glass breaking, combining transfer learning and deep learning to teach Alexa new languages and capabilities; improved contextual understanding and added memory etc
  • Can provide more updates on sports with predictions, live streams, and summaries; answer more questions about upcoming concerts and top music venues worldwide; help with math, science, engineering, and geography questions; show more videos and live TV with Hulu and NBC
  • Upcoming integration of Alexa into select Audi vehicles; the Alexa Auto SDK can be used to build Alexa into in-car infotainment systems; and Echo Auto.

Prime Video

  • Prime Video and Comcast partnership to launch Prime Video on Comcast’s Xfinity X1
  • NFL Thursday Night Football (TNF)’s second season, reached over 8 million combined viewers worldwide in the first 4 games on Prime Video and Twitch.
  • Prime Video Original Series debuting in 2018 include: Homecoming, season 2 of The Marvelous Mrs Maisel
  • New Prime Credit Card in Germany
  • Amazon and American Express launched the Amazon Business American Express Card
  • Prime Book Box to all US Prime members. This delivers curated children’s books every one, two, or three months for $22.99 per box
  • Expanded grocery delivery from Whole Foods Market through Prime Now. Currently available in more than 60 US cities.
  • Launched grocery pickup from Whole Foods Market through Prime Now, available in over 10 US cities with plans for expansion.

Amazon India

  • Launch of Amazon.in in Hindi.

Physical stores

  • Amazon Go, a no-checkout required offline store, opened five new stores in Seattle, Chicago, and San Francisco.
  • Launched Amazon 4-star in New York City, a physical store that carries a curated selection of products from the top categories across Amazon.com including devices, consumer electronics, toys, games, books, kitchen, home, and more.
  • Amazon Storefronts in the US, Germany, and the UK. Combined, these stores allow customers to shop online for over 1 million products exclusively from small and medium-sized businesses selling on Amazon.

Amazon Web Services (AWS)

  • DoorDash is all-in on AWS
  • Hubspot and Samsung Heavy Industries selected AWS as their Preferred Public Cloud Provider
  • Yelp moved its master database from its own data center to AWS
  • AWS announced the expansion of VMware Cloud on AWS into the AWS Asia Pacific (Sydney) Region, with additional regions expected to go live in Q4 including Asia Pacific (Tokyo), EU (Ireland), US West (N. California), US East (Ohio), and AWS GovCloud (US).

Download: Press release | Financials

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



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