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Amazon third-quarter earnings soar as pandemic sales triple profits

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October 29, 2020 at 10:16PM

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  • Company sees a 37% increase in earnings
  • Revenues of $96.15bn were better than analysts expected

Amazon reported blowout third-quarter results on Thursday as a pandemic sales boost helped the company triple its profits amid a 37% increase in earnings.

The company’s revenues of $96.15bn were better than analysts expected and its net income increased to $6.3bn in the third quarter, compared with net income of $2.1bn in third quarter 2019. Its cloud-services unit, Amazon Web Services, reported net sales of $11.6bn for the quarter, up 29% year over year.

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