Amazon to continue investments in India, other international markets
BENGALURU: Global e-commerce major Amazon.com Inc. saw its revenue touch $96.1 billion in the September quarter, up 37% from a year ago, driven by robust sales. Net income rose to $6.3 billion from $2.1 billion in the year-ago quarter.
Amazon announced its results early on Friday.
Chief financial officer (CFO) Brian Olsavsky said the company will continue to invest in international markets, especially in India, as volumes grow.
“I would say generally we're still investing ahead of the US in a lot of dimensions internationally (in) things like Prime benefits, things like devices, things like international expansions […] we're committed to continuing that (level of investments) even after the pandemic and including the international segment of course is India where we've had a very strong Prime Day and Diwali is off to a good start and so anyway," Olsavsky said in an earnings call.
Amazon said that its India arm which kicked off its month-long ‘Great Indian Festival’ sale on 17 October saw its sellers and brand partners experience the biggest two days of sales in the festival’s history. Amazon India also hosted Prime Day on 6-7 August, during which twice as many customers became members compared to the previous year.