Proactive Investors - Amazon.com Inc (NASDAQ:AMZN) shares moved up as much as 5% in Thursday’s after-hours session after the e-commerce giant reported better-than-expected financial results for its third quarter of 2023, with a notable beat on the bottom line.
The company’s 3Q earnings per share (EPS) came in at $0.94, a more than three-fold increase from a year earlier and much better than the $0.58 analyst consensus estimate.
Its revenue for the period, meanwhile, rose 13% to $143.1 billion, edging past expectations of $141.4 billion.
Amazon Web Services (AWS) sales climbed 12% to $23.1 billion during the quarter, a slight miss on the analyst forecast of $23.2 billion.
However, revenue for its Advertising segment came in at $12.1 billion, better than the $11.6 billion expected.
Looking ahead, Amazon said its 4Q revenue will be between $160 billion and $167 billion, the midpoint of which would be about 10% higher than the same period last year and in line with analyst consensus forecast of $166.6 billion.