The online retail giant has announced financial results for its third quarter, ended September 30.
In a year unlike any other where traditional bricks-and-mortar retail across the world have been exceptionally hard hit by the impacts of the ongoing Coronavirus pandemic, online retail giant Amazon have recorded a huge surge in sale as a result of more and more people turning to online shopping.
Amazon’s results how that their operating cash flow has increased by 56 per cent to $55.3bn for the past twelve months, in comparison with last year $35.3bn. Net sales have increased 37 per cent to $96.1bn in the third quarter compared with last years $70bn and net income has increased to $6.4bn in the third quarter, or $12.37 per diluted share, compared with a net income of $2.1bn in the same period last year or $4.23 per diluted share.
Countries across the world continue to be in various states of lock down and whilst bricks-and-mortar retail are forced to shutter their locations, Amazon continues to provide a solution to those looking to shop. Particularly with the holiday season just around the corner, it appears that Amazon is unstoppable.
