Amazon.com posted another blockbuster quarter, comfortably topping Wall Street expectations for both earnings and revenue, and signalling confidence heading into the crucial holiday season.
The e-commerce and cloud giant reported third-quarter earnings per share of $1.95, well above analysts’ forecasts of $1.57. Revenue climbed 13% year-on-year to $180.2 billion, beating estimates of $178.08 billion.
For the fourth quarter — which includes the busy shopping period — Amazon guided net sales between $206 billion and $213 billion, bracketing expectations of $208.4 billion.
The results underline Amazon’s continued strength in both its retail and AWS cloud segments, with resilient consumer demand and expanding margins positioning it strongly for the year-end.
This article was written by Eamonn Sheridan at investinglive.com.