Amazon Q3 Earnings Highlights: Revenue Beat, EPS Beat, Q4 Guidance, New Kindles 'Significantly Outperforming Our Expectations'
Amazon.com Inc AMZN reported third-quarter financial results after the market close Thursday.
Here are the key highlights.
What Happened: Amazon reported third-quarter net sales of $158.9 billion, up 11% year-over-year. The total beat a Street consensus estimate of $157.2 billion, according to data from Benzinga Pro.
The company reported third-quarter earnings per share of $1.43, which beat a Street consensus estimate of $1.14.
Sales for the third quarter were as follows:
North America: $95.5 billion, +9% year-over-year
International: $35.9 billion, +12% year-over-year
AWS: $27.5 billion, +19% year-over-year
Operating income was $17.4 billion in the third quarter, up from $11.2 billion in last year’s third quarter. AWS led the way on operating income with $10.4 billion, up from $7 billion in last year’s third quarter. Operating income was $5.7 billion and $1.3 billion in North America and International segments respectively, both up on a year-over-year basis.
Amazon highlighted the strength of its streaming segment with “The Lord of the Rings: The Rings of Power” season two launch and its distinction of becoming the most-watched returning season on Prime Video by hours watched.
The Sept. 26 “Thursday Night Football” matchup between the Dallas Cowboys and New York Giants had over 17 million viewers, ranking as the most streamed NFL regular season game ever, Amazon said.
Read Also: Amazon Q3 Earnings Preview: AWS, Prime Video, Streak Of Analyst Beats On Watch
What’s Next: Guidance from the company calls for fourth-quarter net sales to come in a range of $181.5 billion to $188.5 billion, up 7% to 11% year-over-year.
The company expects operating income to come in a range of $16 billion to $20 billion in the fourth quarter.
“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, and there’s so much more coming, from tens of millions of deals to our NFL Black Friday game and Election Day coverage,” Amazon CEO Andy Jassy said.
Jassy said Amazon will share more details on new cloud infrastructure and AI capabilities at re:Invent, which takes place the week after Thanksgiving.
AMZN Price Action: Amazon stock is up 3.93% to $193.50 in after-hours trading Thursday. versus a 52-week trading range of $133.86 to $201.20.
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Photo courtesy of Amazon.
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