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Amazon reports $96.1 billion in Q3 2020 revenue: AWS up 29%, subscriptions up 33%, and ‘other’ up 51%
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Amazon reports $96.1 billion in Q3 2020 revenue: AWS up 29%, subscriptions up 33%, and ‘other’ up 51%

Amazon reported fiscal Q3 2020 earnings, including revenue of $96.1 billion, net income of $6.3 billion, and earnings per share of $12.37.

Business

Amazon today reported earnings for its third fiscal quarter of 2020, including revenue up 37% to $96.1 billion, net income of $6.3 billion, and earnings per share of $12.37 (compared to revenue of $70.0 billion, net income of $2.1 billion, and earnings per share of $4.23 in Q3 2019). North American sales were up 39% to $59.4 billion, while international sales grew 37% to $25.2 billion.

This is Amazon’s second full quarter during the coronavirus pandemic. Given the company’s leadership position in online retail and the cloud, its results are a bellwether. In Q2, Amazon set aside “$4.0 billion in costs related to COVID-19” followed up by $2.0 billion in Q3. For Q4, Amazon set aside another “$4.0 billion of costs related to COVID-19.” The company does not want to be seen as benefiting too much from the pandemic — its $5.2 billion in quarterly profit in Q2 was the largest ever in its 26-year history. It broke that record again in Q3 with $6.3 billion in quarterly profit, up 200% year-over-year.