Increased costs across key elements, including shipping and staff, saw Amazon’s 3rd quarter net earnings fall to US $3.2bn which is $6.3bn lower than the same quarter last year. Net sales had increased by 15 per cent to US $110.8bn on the US$96.1bn for the same quarter in 2020.
“We’ve always said that when confronted with the choice between optimising for short-term profits versus what’s best for customers over the long term, we will choose the latter – and you can see that during every phase of this pandemic,” said Andy Jassy, Amazon CEO. “In the first several months of COVID-19, Amazonians played an essential role to help people secure the requisite PPE, food, and other in-demand items needed, and we worked closely with businesses and governments to leverage AWS to maintain business continuity as they responded to the pandemic.
“Customers have appreciated this commitment, which is part of what’s driving this past quarter’s AWS growth acceleration to 39 per cent year over year; but it’s also driven extraordinary investments across our businesses to satisfy customer needs – just one example is that we’ve nearly doubled the size of our fulfilment network since the pandemic began.”
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