US Amazon Announced the 3rd Quarter Financial Results. Net income decreased by 50% due to slowdown of online shopping business
On October 28, major online shopping company US Amazon announced its financial results for the 3rd quarter. Sales increased 15% from the same period of the previous year to 110.812 billion dollars (approximately 12.57 trillion yen), and net income decreased 50% from the same period of the previous year to 3.156 billion dollars (approximately 357 billion yen). It is said that the main reason for the decrease in profits was the slowdown in the main online shopping business and the rise in wages due to labor shortages. Regarding the performance of the retail-related business, online store sales increased 3% from the same period of the previous year to 49.9 billion dollars (approximately 5.644 trillion yen), and physical store sales increased 12% from the same period of the previous year to 4.3 billion dollars (approximately 486.3 billion yen). Sales of third-party sellers increased 18% from the same period of the previous year to 24.3 billion dollars (approximately 2.7485 trillion yen). "Amazon One," the palm authentication system was introduced for the first time at the third-party stores, and is currently available at more than 70 stores, including the company's food supermarket "Amazon Fresh."
Sources: The Company's Financial Results Announcement Material "AMAZON.COM ANNOUNCES THIRD QUARTER RESULTS” (October 28, 2021)
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