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Amazon post positive Q3 figures with net sales up by 24%

As Amazon continues its aggressive expansion strategy, the firm's Q3 results are boding well for future growth - net sales are up by 24 per cent year-on-year, whilst quarterly loss is down, news that sent its shares rising by 8 per cent.

The strong performance may indicate important momentum going into the Christmas season, particularly in the US, where analysts are predicting sales could be the slowest for retailers in years.

Net sales were logged at $17.09 billion (£10.5 billion) in the third quarter, a huge rise compared with $13.81 billion (£8.5 billion) in Q3 2012. Net loss meanwhile was at $41 million (£25.3 million), a massive drop compared with a net loss of $274 million (£170 million) in Q2 2012.

Operating loss was $25 million (£15.4 million) in the last quarter, compared with a loss of $28 million (£17.3 million) for the same period of last year, an illustration of Amazons heavy investment.

Emphasising Amazon's focus on growth, in a breathless statement, founder and CEO Jeff Bezos said: "In the last 90 days, our AWS team got back to work on a big government contract, we brought 8 million square feet of fulfilment centre capacity online, deployed 1,382 Kiva robots in three FCs, provided a new venue for artists to reach customers, signed up millions of new Prime members...

"Announced Kindle MatchBook, Login & Pay, and nine new original TV pilots, joined the coalition, acquired TenMarks—a company that helps kids with math, scored a win for customers who want to use Kindles on airplanes even during takeoff and landing (also, a big hat tip to Nick Bilton on that one), began hiring and training 70,000 new US FC employees to help serve customers this holiday season, and saw the Kindle Million Club grow to include 14 KDP authors."