Amazon to continue pouring billions into transport network, CFO says

[truxforever]

Amazon. com Inc. (NASDAQ:AMZN) late Thursday posted strong third-quarter results, with net revenue of $96.1 billion exceeding the high end of its estimates, and net income of $12.37 a share exceeding analysts’ median estimates by more than $5 a share.

The Seattle-based giant also said that transportation costs accounted for more than half of its $30 billion in capital expenditures for the first nine months. Brian Olsavsky, Amazon’s CFO, said transportation network investments will consume at least half of the company’s capital spending over a multiyear period.

Olsavsky sidestepped an analyst’s question about the impact of scarce parcel-delivery supply on the company’s peak-season performance, saying that everyone will be running tight but that the company feels it’s ready for what is expected to be an unprecedented onslaught of traffic.

Amazon today self-handles about two-thirds of its deliveries, the highest ever in its history, according to estimates from consultancy ShipMatrix. Amazon’s third-quarter shipping costs totaled more than $15 billion, a 57% year-over-year increase. As high as those costs are, they may be dwarfed by what Amazon will spend between October and the end of 2020.

The third-quarter financial metrics were clearly positive. Net sales increased 36% compared

https://freightwaves.com/news/amazon...twork-cfo-says

[GO40]

Amazon. com Inc. (NASDAQ:AMZN) late Thursday posted strong third-quarter results, with net revenue of $96.1 billion exceeding the high end of its estimates, and net income of $12.37 a share exceeding analysts’ median estimates by more than $5 a share.

The Seattle-based giant also said that transportation costs accounted for more than half of its $30 billion in capital expenditures for the first nine months. Brian Olsavsky, Amazon’s CFO, said transportation network investments will consume at least half of the company’s capital spending over a multiyear period.

Olsavsky sidestepped an analyst’s question about the impact of scarce parcel-delivery supply on the company’s peak-season performance, saying that everyone will be running tight but that the company feels it’s ready for what is expected to be an unprecedented onslaught of traffic.

Amazon today self-handles about two-thirds of its deliveries, the highest ever in its history, according to estimates from consultancy ShipMatrix. Amazon’s third-quarter shipping costs totaled more than $15 billion, a 57% year-over-year increase. As high as those costs are, they may be dwarfed by what Amazon will spend between October and the end of 2020.

The third-quarter financial metrics were clearly positive. Net sales increased 36% compared

https://freightwaves.com/news/amazon...twork-cfo-says

I keep hearing how amazon is going to kill the trucking industry, i think it's going to affect the parcel industry in a big way but not trucking. The less we see of it the better, We now have to bow to them and close out trailer's in 48 hours even if there is 2 skids on it & to top it off they give you a Sunday appointment where the company has to pay double time...

[Crazy]

I keep hearing how amazon is going to kill the trucking industry, i think it's going to affect the parcel industry in a big way but not trucking. The less we see of it the better, We now have to bow to them and close out trailer's in 48 hours even if there is 2 skids on it & to top it off they give you a Sunday appointment where the company has to pay double time...

I have been seeing a whole bunch of amazon driver jobs on Facebook.. Yeah, come and be your own boss and work for like $5 an hour delivering residential packages while renting a van from Amazon.. Sounds like a plan..

[truxforever]

I keep hearing how amazon is going to kill the trucking industry, i think it's going to affect the parcel industry in a big way but not trucking. The less we see of it the better, We now have to bow to them and close out trailer's in 48 hours even if there is 2 skids on it & to top it off they give you a Sunday appointment where the company has to pay double time...

I agree GO4O the less the better. 385 pound thread-mills and other big stuff requiring inside delivery. What a pain in the_ _ _.