October 30, 2017

Last week ecommerce giant Amazon [NASDAQ: AMZN] reported another stellar quarter, driving its stock value up by more than $128 per share overnight. Among its quarterly financial highlights were net sales of $43.7 billion, representing a 34 percent increase over the same period last year. Net sales included $1.3 billion from Whole Foods Market, who Amazon acquired on August 28, 2017. Without the Whole Foods Market deal, Amazon’s net sales would have increased 29 percent year-over-year. Net income for the third quarter was $256 million, or $0.52 per diluted share, compared to $252 million, or $0.52 per diluted share, for the third quarter of 2016.