Amazon Beats Q3 Forecasts, Especially On The Bottom Line
deadline.comAmazon topped Wall Street estimates in the third quarter, posting an 11% rise in revenue compared with the year-ago quarter and diluted earnings per share of $1.43.
The earnings figure came in well above the Street expectation of $1.14, while total revenue of $158.9 billion eased past the consensus forecast of $157.3 billion.
The company said it expects revenue in the holiday fourth quarter to grow 7% to 11% compared with the same period in 2023, reaching between $181.5 billion and $188.5 billion.
CEO Andy Jassy noted the holidays got an early kickoff with Prime Deal Days earlier this month. “There’s so much more coming,” he said in the earnings release, “from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities.” Investors cheered the print, sending shares up 5% in after-hours trading.
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