The Seattle company's revenue gains were thanks in part to its $13.7 billion acquisition of Whole Foods, which brought in $1.3 billion in sales during the three-month period. With the Whole Foods Market contribution and the $124 million favorable impact from year-over-year changes in foreign exchange rates excluded, net sales increased 29% versus the previous third quarter. Net income was 256 million dollars in the third quarter or 0.52 dollar per diluted share compared with 252 million dollars or 0.52 dollar per diluted share, in third quarter 2016. For the quarter, operating income was down by 40% to $347 million.
Impressively, Amazon has managed to increase the pace of growth from its online stores, where sales increased by 22% over the prior year.
O'Shea also noted revenue growth and operating income at AWS "more than offset" the loss Amazon took on through investments in its global business. Last quarter, AWS sales surged 42% to $4.1 billion, while operating income in that segment was up 28% $916 million. They have gained about 30 percent this year.
Body found in Allegan State Game Area confirmed as Theresa Lockhart
Christopher Lockhart has been arrested several times since his wife's disappearance on unrelated charges, the station reports. Armold noted that Lockhart never asked for updates on the investigation and didn't participate in searches for his wife .
The Amazon Web Services or AWS, which handle computing and data for large companies, saw growth in profit margin compared to the quarter before, posting a rise in sales of nearly 42% to end at $4.57 billion, which beat estimates of $4.52 billion.
The arrival of a simple monetization feature will likely draw in big name developers with original titles which would help cement Amazon's role as the leading voice digital assistant platform, with the company able to offer monetization options, reach and engagement, a combination not available on any other platform. The launch of new services like Amazon's unlimited music service in several European countries, and the rollout of Alexa services to India and Japan, have all taken their toll on the cost line.
Amazon had an eventful third quarter, including its purchase of Whole Foods and announcing it would open a second headquarters.
In its release, Amazon vowed to continue the downward pressure on prices at often-pricey Whole Foods, saying "the two companies together will pursue the vision of making high-quality, natural and organic food affordable to everyone". Whole Foods' operating income was $21 million.
Pakistan opposes supply of United States armed drones to India
While ending his briefing, Asif suggested that relations between the USA and Pakistan could only be built on mutual respect and coordination.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.
All that said, it is clear that Amazon's own online stores are no longer the star of the show. The Motley Fool has a disclosure policy.
Time Warner grows on all fronts
Bernstein reaffirmed a "market perform" rating on shares of Time Warner in a research report on Tuesday, September 12th. When we look at the Volatility of the company, Week Volatility is at 0.89% whereas Month Volatility is at 0.75%.