E-commerce giant Amazon has reported total sales of $143.1bn in the third quarter (Q3) of fiscal year (FY) 2023.
This is an increase of 13% from $127.1bn in Q3 FY22.
Sales of Amazon North America segment for the quarter ending 30 September 2023 increased 11% to $87.9bn and increased 16% to $32.1bn in its International segment.
The retailer’s operating income for the quarter was $11.2bn, driven by operating income of $4.3bn in its North America segment. It recorded an operating loss of $0.1bn in its International segment.
Amazon delivered a net income of $9.9bn in Q3 FY23 against $2.9bn in the corresponding period in FY22.
Its earnings per diluted share (EPS) for the three-month period were $0.94, up from $0.28 in the same period a year ago.
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Amazon CEO Andy Jassy said: “We had a strong third quarter as our cost to serve and speed of delivery in our Stores business took another step forward, our AWS growth continued to stabilise, our Advertising revenue grew robustly and overall operating income and free cash flow rose significantly.
“The benefits of moving from a single national fulfilment network in the US to eight distinct regions are exceeding our optimistic expectations and perhaps most importantly, putting us on pace to deliver the fastest delivery speeds for Prime customers in our 29-year history.”
In the fourth quarter of FY23, Amazon expects its net sales to grow from 7% to 12% or between $160.0bn and $167.0bn.
The company anticipates operating income to be between $7.0bn and $11.0bn.
Recently, Amazon announced the expansion of its drone delivery service, Prime Air, to international locations and in the US.