Amazon.com reported their Q3 financials on Thursday and they barely beat Wall Street expectations. Amazon.com reported a loss of $41 million (9 cents per share) with net sales of $17.09 billion. Analysts were expecting a 9 cent per share loss on $16.76 billion in revenues of the quarter. Net sales are a 24% increase from last year.
These results meets Amazon.com’s own expectations from earlier this year. In Q2, Amazon.com said that they were anticipating third quarter revenues at between $15.45 billion and $17.15 billion.
For the next quarter, Amazon.com is expecting net sales to hit between $23.5 billion and $26.5 billion. Q4 always tends to be huge for Amazon.com due to the holiday rush. Amazon.com is hiring 70,000 seasonal employees to handle the holiday rush, which is up 40% from last year. Last year during the same period, Amazon.com reported a $274 million loss.
?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!? stated Amazon.com founder and CEO Jeff Bezos. ?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.?