Amazon profits have tripled in its latest quarter as consumers continue to spend despite the persistently high interest rates.
Profits for the online retail giant rocketed to £8.2bn ($9.9bn) in the three months to 30 September, up from £2.4bn ($2.9bn) a year ago.
Sales jumped 13% to £118bn ($143.1bn) in the third quarter, boosted by a 16% increase in international revenue to £26.5bn ($32.1bn).
The retail giant gained momentum in its cloud computing platform, Amazon Web Services (AWS), with sales up 12% to £19bn ($23.1bn).
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Amazon said it expects to deliver sales between £132bn ($160bn) and £137.8bn ($167bn) for its fourth quarter, a 7% to 12% increase on last year.
Chief executive Andy Jassy said: “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.
“Between AWS re:Invent (a learning conference hosted by AWS for the global cloud computing community) 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.”
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