Australia’s biggest online retailer has confirmed it will record $3.5bn in quarterly cash flow, exceeding the $2.5 billion recorded last year by a company that has been hit by an unprecedented series of data breaches.
Amazon’s latest quarterly results show the e-commerce giant’s cash flow will beat all other online retailers by as much as $3 billion, beating out those of Walmart and Costco, which are in the middle of their respective quarters.
Amazon recorded a total of $1.5 trillion in revenue in the quarter ending September 30, compared to $1 trillion for the same period a year ago.
The company’s cash is projected to hit $4.4 billion in 2019, more than double that of the next closest competitor.
The figures also reflect the rapid expansion of Amazon’s fulfilment business, which has now surpassed its original target of having 50 million online orders per quarter by 2020.
While the company has yet to release quarterly financial information for 2019, analysts say it will soon.
Amazon Chief Executive Jeff Bezos said the company’s goal was to have more than 50 million orders per day by 2020, a target the company aims to meet.
“We are at the point now where we’re going to hit that target and I’m confident it’s going to be here,” he said.
“The question is, what is it going to take to get there?
And I think we’re moving in the right direction, because it is a matter of delivering value to our customers.”
Amazon is also ramping up its distribution business in the United States, and the company is looking to expand its global reach in the near future.