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Prime Day helps Amazon boost profits by 85%

Amazon’s profits rose 85% year on year to $79m (£51.3m) in the three months to September 30.

Sales at the etailer rose 23% to $25.4bn (£16.5bn) during the third quarter, up from $20.6bn (£13.4bn) last year.

The uplift was driven in part by its Prime Day promotion on July 15, which promised more deals than last year’s Black Friday. The one-day Sale, launched to mark Amazon’s 20th anniversary, boosted revenue by 2%, the company said. 

It now expects sales of between $33.5bn (£21.8bn) and $36.7bn (£23.8bn) in the final three months of the year, including the Christmas period.

Amazon reported a $92m (£60m) profit for the three months to June 30, marking a return to profit after it made a loss of $57m (£36.7m) in the first quarter.

Earlier this week, Amazon revealed plans to create more than 270 jobs in South Yorkshire over the next three years with the opening of a new ‘delivery station’ in Sheffield - its 17th in the UK.

A 250,000 sq ft fulfilment centre will open in Doncaster later this autumn.

 

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