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Amazon Profits Wafer Thin As Revenues Soar, AWS Biggest Contributor

Prime Day, a summer marketing event Amazon has created to replicate the shopping frenzy that is more typical of the winter holiday season, helped boost sales. It's still the clear-cut leader in cloud market share and accounts for more than half of Amazon's operating profits in 2016, up ten percentage points than 2015.

Amazon sales increased by 34 percent during the third quarter to $43.7 billion, the e-commerce giant reported on Thursday.

Meanwhile, Amazon said Hulu selected Amazon Web Services (AWS) as its cloud provider in Q3.

Amazon has produced another stellar set of sales figures, with total revenue up by nearly 34%. Wedge Capital Management L LP Nc owns 0% invested in Amazon.com, Inc.

"Margins. remain challenged", Charlie O'Shea, an analyst for Moody's, wrote in an email.

Amazon also broke out physical store sales for the first time, posting $1.3 billion in revenue, which primarily came from Whole Foods. "We have free shipping on 10 million items there and we're continuing to add benefits; Prime Video, Amazon Family", CFO Brian Olsavsky said in an earning call late Thursday in response to what was driving worldwide losses. A very successful Prime Day, the addition of more customers to the Prime ecosystem, and continued uplifts in spending from both Prime and non-Prime customers alike, all drove the outperformance. But "we're not ready to announce what that will look like". Olsavsky Brian T sold $2.24 million worth of Amazon.com, Inc. Cowen and Company restated an "outperform" rating and issued a $1,125.00 price target on shares of Amazon.com in a report on Thursday, August 10th. They presently have a $950.00 price target on the e-commerce giant's stock.

Yhb Investment Advisors Inc decreased its stake in Amazon Com Inc (AMZN) by 22.88% based on its latest 2017Q2 regulatory filing with the SEC.

The company spelled out a long list of new products it had rolled out in the quarter.

Earlier this week, the tech firm also announced plans to launch Amazon Key, a new smart package delivery system that uses an app, smart lock and security camera to enable couriers to leave packages inside the front door of homes. In a separate statement, Gigamon said it earned $2.2 million, or 6 cents a share, in the third quarter, compared with $6.1 million, or 16 cents a share, in the year-ago period. That equates to a meager 1.3% sales uptick from a year ago, so expectations really aren't very high this time around.

The operating profit meanwhile sank 40 percent to United States dollars 347 million, including USD 21 million from Whole Foods Market.

Amazon generated 59 percent of its sales in North America, where it is now scouting a site for a second company headquarters.

The company is rapidly growing: It paid almost US$14 billion ($20.5b) this summer for organic grocer Whole Foods; announced a series of new voice-activated Echo devices; and kicked off a public hunt for a place to build its second headquarters.

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