Amazon Announces Q3 2013 Results, Sales Up 24%By: Zach Walton - October 24, 2013
Back in June, Amazon announced that its quarterly sales were up 22 percent. That growth has now been confirmed to have continued into its third quarter this year.
Amazon announced this afternoon that its net sales for Q3 2013 increased 24 percent to $17.09 billion. The retailer notes that net sales would have increased by 26 percent if it excluded the $332 million it in Q3 thanks to “unfavorable impact from year-over-year changes in foreign exchange rates.”
Amazon also announced that operating cash flow increased 48 percent to $4.98 billion. On the other hand, its free cash flow decreased 63 percent to $388 million. It notes that its free cash flow was impacted by the $1.4 billion purchase of corporate office space and property in Q4 2012.
As for operating loss, Amazon announced that it was down to $25 million in Q3 2013, compared to $28 million in Q3 2012. Net loss was also down to $41 million in Q3 2013, compared to $274 million in Q3 2012.
“It’s been a busy few months—we launched a new Paperwhite and new Kindle Fires to positive reviews and surprised people with the revolutionary Mayday button—average Mayday response times are just 11 seconds!” said Jeff Bezos, founder and CEO of Amazon.com. “And that’s not all. In the last 90 days, our AWS team got back to work on a big government contract, we brought 8 million square feet of fulfillment center capacity online, deployed 1,382 Kiva robots in three FCs, provided a new venue for artists to reach customers, signed up millions of new Prime members, announced Kindle MatchBook, Login & Pay, and nine new original TV pilots, joined the Code.org coalition, acquired TenMarks—a company that helps kids with math, scored a win for customers who want to use Kindles on airplanes even during takeoff and landing (also, a big hat tip to Nick Bilton on that one), began hiring and training 70,000 new U.S. FC employees to help serve customers this holiday season, and saw the Kindle Million Club grow to include 14 KDP authors.”
In its Q4 2013 guidance, Amazon says to expect net sales between $23.5 billion and 26.5 billion, and an operating income of $500 million.
In after hours trading, Amazon’s share price is up 27 points to 359.60.[Image: Amazon]