Amazon battles freight inflation as shipping costs jump 11% in Q3
Amazon's logistics network absorbed higher fuel and linehaul costs in the third-quarter while delivering more than 1.5 billion items same-day or overnight. The post Amazon battles freight inflation as shipping costs jump 11% in Q3 appeared first on FreightWaves .
Amazon posted record operating profitability in the third quarter, driven by its expanding delivery network and investments in robotics. CEO Andy Jassy stated that these initiatives are attracting customers while reducing fulfillment expenses. The company reported $201.9 billion in revenue, up 12% from the previous year, and operating income surged 61% to $28.1 billion.
Shipping costs increased by 11% year-over-year, despite a 12% rise in units shipped. Amazon's North America segment saw significant growth, with revenue up 6% and operating income increasing by 81%. The company's operating margin reached a new high of 13.9%. Despite the challenges, Amazon expects fourth-quarter net sales to fall between $240 billion and $247 billion, with operating income forecasted between $28.5 billion and $33.5 billion.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
