AMAZON.COM ANNOUNCES THIRD QUARTER RESULTS
SEATTLE—(BUSINESS WIRE) October 29, 2020—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its third quarter ended September 30, 2020.
•Operating cash flow increased 56% to $55.3 billion for the trailing twelve months, compared with $35.3 billion for the trailing twelve months ended September 30, 2019.
•Free cash flow increased to $29.5 billion for the trailing twelve months, compared with $23.5 billion for the trailing twelve months ended September 30, 2019.
•Free cash flow less principal repayments of finance leases and financing obligations increased to $18.4 billion for the trailing twelve months, compared with $14.6 billion for the trailing twelve months ended September 30, 2019.
•Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $17.9 billion for the trailing twelve months, compared with $10.5 billion for the trailing twelve months ended September 30, 2019.
•Common shares outstanding plus shares underlying stock-based awards totaled 518 million on September 30, 2020, compared with 511 million one year ago.
•Net sales increased 37% to $96.1 billion in the third quarter, compared with $70.0 billion in third quarter 2019. Excluding the $691 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 36% compared with third quarter 2019.
•Operating income increased to $6.2 billion in the third quarter, compared with operating income of $3.2 billion in third quarter 2019.
•Net income increased to $6.3 billion in the third quarter, or $12.37 per diluted share, compared with net income of $2.1 billion, or $4.23 per diluted share, in third quarter 2019.
“Two years ago, we increased Amazon’s minimum wage to $15 for all full-time, part-time, temporary, and seasonal employees across the U.S. and challenged other large employers to do the same. Best Buy and Target have stepped up, and we hope other large employers will also make the jump to $15. Now would be a great time,” said Jeff Bezos, Amazon founder and CEO. “Offering jobs with industry-leading pay and great healthcare, including to entry-level and front-line employees, is even more meaningful in a time like this, and we’re proud to have created over 400,000 jobs this year alone. We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season. Big thank you to our employees and selling partners around the world who’ve been busy getting ready to deliver for customers this holiday.”
Investing in Jobs and Employees
•Amazon announced that it is creating hundreds of thousands of new jobs around the world for people at all skill levels and stages of their careers, including:
•100,000 new permanent jobs with industry-leading pay of at least $15 per hour, benefits starting on day one, sign-on bonuses of up to $1,000 in select U.S. cities, and access to company-subsidized upskilling programs like Career Choice. This hiring was part of Amazon opening 100 new operations buildings across North America.
•100,000 new seasonal jobs with Amazon Air, logistics, fulfillment centers, sortation centers, and global specialty fulfillment teams in the U.S. and Canada.
The following information was filed by Amazon Com Inc (AMZN) on Thursday, October 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.