Published: Mon, October 30, 2017
Economy | By Melissa Porter

Amazon Quarterly Revenue Up 34 Percent Following Whole Foods Acquisition

That's earnings per share and analysts expected Amazon to spend much more on investment this past quarter.

"You will see more expansion from us", Olsavsky said during Thursday's call.

"Customers have purchased tens of millions of Alexa-enabled devices".

The company's net sales rose 33.7 per cent to $43.74-billion from $32.71-billion, including $1.3-billion in about a month of sales for upscale grocer Whole Foods, which Amazon acquired for $13.7-billion in August.

Excluding the impact of Whole Foods, net sales were up 29 percent, Amazon said.

The company's Amazon Web Services cloud-computing division has also beefed up profits, its operating income rising to $1.2 billion, up from $861 million.

Amazon has yet to spell out a clear strategy behind its retail expansion. This sentiment may prove to be more valuable than any other consumer metric in the years to come, as Amazon continues to aggressively push into hardware products that are primarily created to listen and respond to our every command in the home. 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. But the basic news is that Amazon delivered awesome results that greatly exceeded analyst expectations. "These investments - in services, devices, new ventures, pricing, worldwide markets, and business services - will all power growth in the years ahead". "Amazon's approach is being noticed by consumers".

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