Amazon reported a surge in net profit for Q3 at $79 million, from a net loss of $437 million YoY. Turnover increased 24% YoY to $25.4 billion. Per share earnings grew to $0.17 from a net loss of $0.95 per share YoY. The results come as a shock to analysts who predicted a loss of $0.13 per share. The major contributor of this turnaround was Amazon Web Services (AWS), the segment that accounts for half of Amazon’s profits from only 8% of its revenue. This segment alone showed an increase of 78% in turnover and 432% in profits YoY to $2.1 billion and $521 million respectively.
Empowering display industry professionals with cutting-edge insights and analysis
