Amazon stock pops after Q3 earnings beat

Published On Oct 31, 2024, 4:14 PM

Amazon's stock increased by up to 5% following the company's strong earnings report for Q3, which exceeded Wall Street expectations. The company's revenue reached $158.9 billion, surpassing the expected $157.29 billion. Its adjusted earnings per share were $1.43, also exceeding expectations of $1.16. Looking forward to Q4, Amazon projects revenue of $181.5 to $188.5 billion, which is slightly below expectations of $186.36 billion, while operating income estimates are within a range that is above projections. Amazon's cloud division, AWS, showed strong performance but slightly missed revenue expectations for the quarter.

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Positive

Amazon continues to demonstrate resilient growth across its business divisions, significantly beating earnings expectations. The anticipated revenue and operating income for Q4 indicate ongoing momentum, despite some caution in market expectations. This report coupled with strong performance from big tech rivals suggests that Amazon remains a solid investment choice in the tech sector.

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