Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessAmazon Shares Jump 7 percent on Strong Q3 Results

Amazon Shares Jump 7 percent on Strong Q3 Results

Add to Favorite
Added to Favorite


Amazon.com (NASDAQ:AMZN) reported third-quarter earnings that exceeded analyst expectations, pushing its stock up over 7% intra-day today. The tech giant’s performance was boosted by growth in artificial intelligence, particularly within its cloud division.
Amazon posted adjusted earnings per share of $1.43, beating the forecasted $1.14, and reported revenue of $158.9 billion, surpassing estimates of $157.25 billion and marking an 11% year-over-year increase.
CEO Andy Jassy highlighted “once-in-a-lifetime” opportunities emerging from generative AI, which has spurred an uptick in cloud demand as businesses ramp up investment in the necessary infrastructure. Amazon Web Services (AWS) saw a substantial lift, with sales jumping 19% to $27.5 billion. Jassy noted that AI-driven operations within AWS were experiencing “triple-digit” growth.
The surge in AI demand, however, has led Amazon to significantly boost capital expenditures on data centers and networking, with $75 billion planned for this year and even higher spending expected in 2024.
Amazon’s AI-powered shopping assistant, Rufus, expanded to additional markets, while new AI tools were rolled out for sellers and advertisers, enhancing the company’s offerings as it heads into the holiday season. North American sales rose 9% to $95.5 billion, with international sales up 12% to $35.9 billion. Amazon’s operating margin reached a record 11%, with AWS margins hitting an all-time high of 38%.
For the fourth quarter, Amazon projected revenue between $181.5 billion and $188.5 billion, just below the midpoint of Wall Street analysts’ $186.36 billion estimate. The company forecasted Q4 operating income between $16.0 billion and $20.0 billion.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Apple Sets Q4 Revenue Record but Cautious Holiday Forecast Dampens Investor Sentiment

Apple (NASDAQ:AAPL) reported fourth-quarter earnings that slightly exceeded Wall...

US economy sees 2.8 percent annual rate in third quarter, no recession, CWEB reports

On Wednesday, the Commerce Department of the US government...

ConocoPhillips (NYSE:COP) Surpasses Earnings Estimates

Earnings per share (EPS) of $1.78 exceeded the estimated...