Amazon's Q3 earnings report beats expectations; shares gain

Investing.comOct 31, 2024 8:42 PM

View all comments（0）



Amazon.com Inc (NASDAQ:AMZN) reported third-quarter earnings that surpassed analyst estimates, driving its stock up 5.7% in after-hours trading despite issuing lower-than-expected guidance for the upcoming quarter.

The e-commerce and cloud computing giant posted adjusted earnings per share of $1.43, beating the analyst consensus of $1.14 by $0.29. Revenue for the quarter came in at $158.9 billion, topping estimates of $157.25 billion and marking an 11% increase YoY.

Amazon's cloud division, AWS, continued its strong performance with sales increasing 19% YoY to $27.5 billion. The North America segment saw sales rise 9% to $95.5 billion, while International segment sales grew 12% to $35.9 billion.

Despite the positive results, Amazon's fourth-quarter revenue guidance of $181.5-188.5 billion fell short of the $186.36 billion analyst consensus at the midpoint. The company expects operating income between $16.0 billion and $20.0 billion for Q4.

"As we get into the holiday season, we're excited about what we have in store for customers," said Andy Jassy, Amazon President&CEO. "We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations."

The company highlighted its continued investment in AI capabilities, including the expansion of its generative AI shopping assistant, Rufus, to several new countries and the launch of new AI-powered features for sellers and advertisers.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Micron Technology (MU) Stock Forecast: AI Memory Boom Keeps Bulls Focused on $1,100 After Trendline Rebound

Micron rebounds from ascending trendline support as AI-driven HBM demand continues to reshape earnings. Can MU extend toward $1,103 after record Q3 results?

NVIDIA (NVDA) Stock Forecast: DeepSeek Building Its Own Chip - Is $197 the Bottom?

Reuters says DeepSeek is building its own AI chip to cut ties with Nvidia. NVDA slipped 2% on the news but still holds $197. The chart has flipped to a long setup. 61 analysts Buy at $301 avg target.

Japan and South Korea Stocks Surge at Open: Nikkei 225 and Kospi Soar Together, SK Hynix and Kioxia Jump 8%, Samsung and SoftBank Follow

Japanese and South Korean stock markets opened higher and continued to rise, with the KOSPI Index and the Nikkei 225 index gaining to varying degrees. SK Hynix and Kioxia surged by approximately 8%, while Samsung Electronics and SoftBank tracked the gains.

FOMC Minutes: Fed Shifts to Neutral Wait-and-See Stance, a Few Officials See Need to Raise Rates, Upside Inflation Risks Become Core Conflict

The Federal Reserve released the minutes of its June 16-17 FOMC monetary policy meeting on July 8. The document shows that the Fed's policy has completely shifted to a neutral, wait-and-see stance, with upside risks to inflation becoming the core contradiction. This FOMC meeting sent a clear signal that the Fed has completely moved away from its previous unilateral rate-cut bias and entered a period of two-way, flexible policy observation. Higher-than-expected inflation stickiness and its broadening scope are the core reasons for this policy shift, while the resilience of employment and growth provides room for flexible policy adjustments. Officials confirmed a further rise in inflation, noting that pressures are no longer confined to exogenous factors such as energy and tariffs. Instead, price increases have spread across a wide range of categories including transportation, airfares, and oil, with service inflation excluding housing showing almost no improvement. In the short term, as shipping through the Strait of Hormuz recovers and the marginal effects of tariffs fade, inflation is expected to decline gradually.

What Is OKX’s 2026 Strategy? Bridging CEX Security and DEX Innovation

Discover OKX’s 2026 strategic roadmap: a dual-track expansion into the U.S. market and a radical security overhaul for decentralized finance. Learn how OKX is leveraging $30B+ in assets, the 39th Proof of Reserves, and TEE-powered "smart accounts" to bridge the gap between CEX resilience and DEX inn

Featured Tools