Amazon.com, Inc clocked net sales of $143.1 billion in the third quarter, compared with $127.1 billion in third quarter 2022, showing a 13 percent increase.
Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11 percent compared with third quarter 2022.
North America segment sales increased 11 percent year-over-year to $87.9 billion. International segment sales increased 16 percent year-over-year to $32.1 billion, or increased 11 percent excluding changes in foreign exchange rates.
AWS segment sales increased 12 percent year-over-year to $23.1 billion, while operating income increased to $11.2 billion in the third quarter, compared with $2.5 billion in third quarter 2022.
North America segment operating income was $4.3 billion, compared with an operating loss of $0.4 billion in third quarter 2022.
International segment operating loss was $0.1 billion, compared with an operating loss of $2.5 billion in third quarter 2022. AWS segment operating income was $7.0 billion, compared with operating income of $5.4 billion in third quarter 2022.
Net income for the quarter increased to $9.9 billion. Third quarter 2023 net income includes a pre-tax valuation gain of $1.2 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $1.1 billion from the investment in third quarter 2022.
“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 stabilize, our Advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,” said Andy Jassy, Amazon CEO in a statement.
“The benefits of moving from a single national fulfillment network in the U.S. 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,” Jassy added.
“Between AWS re:Invent and our 29th holiday shopping season, this is a particularly action-packed time of year at Amazon and we’re excited for what’s to come,” he said.