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Amazon credits “speed of delivery” in 13% revenue jump

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Ecommerce giant Amazon has credited its move to a regional fulfilment network, the growth of Amazon Web Services (AWS), and its speed of delivery for its reported revenue of $143.1bn (£118bn) in the quarter ending 30 September.

This marks a 13% increase from the same period last year, with profits also rocketing to $9.9bn (£8.2bn), up from $2.9bn (£2.4bn) a year ago.

AWS, a longtime profit-driver of the marketplace, saw quarterly sales jump 12% to $23.1bn (£19bn).

“We had a strong third quarter as our cost to serve and speed of delivery in our stores business took another step forward, our AWS growth continued to stabilise, our advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,” said Andy Jassy, Amazon CEO.

“The benefits of moving from a single national fulfillment network in the U.S. to eight distinct regions are exceeding our optimistic expectations, and perhaps most importantly, putting us on pace to deliver the fastest delivery speeds for Prime customers in our 29-year history.

“The AWS team continues to innovate and deliver at a rapid clip, particularly in generative AI, where the combination of our custom AI chips, Amazon Bedrock being the easiest and most flexible way to build and deploy generative AI applications, and our coding companion (CodeWhisperer) allowing enterprises to have the equivalent of an experienced engineer who understands all of their proprietary code is driving momentum with customers, including Adidas,, GoDaddy, LexisNexis, and United Airlines, all of whom are starting to run generative AI workloads on AWS.

“Between AWS re:Invent and our 29th holiday shopping season, this is a particularly action-packed time of year at Amazon and we’re excited for what’s to come.”

Amazon’s recent discount event, Prime Big Deal Days, saw its members across 19 countries save more than $1bn on millions of deals. On the first day of the event, US Prime members purchased more than 25 million items with same-day or next-day delivery, with hundreds of thousands of items delivered within four hours of purchase.

Read an exclusive company profile on Amazon in the newly published European Marketplaces 2023 report, download it in full to discover:

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