Online retailer posts sixth straight quarterly profit
SEATTLE — Amazon.com Inc. reported net sales of $32.7 billion in the third quarter, an increase of increased 29% compared with $25.4 billion in third quarter of 2015. The e-commerce giant also posted its sixth straight quarterly profit. Net income was $252 million in the third quarter, or $0.52 per diluted share, compared with $79 million, or $0.17 per diluted share, in the prior year period.
Revenue was slightly above analysts’ expectations, but the $0.52 earnings per share figure was well short of the $0.78 per share average analyst estimate.
Amazon forecast that its net sales in the fourth quarter would be between $42.0 billion and $45.5 billion, up between 17% and 27% compared last year’s fourth quarter. This guidance anticipates approximately 60 basis points of favorable impact from foreign exchange rates, the company said.