Amazon’s (NASDAQ:AMZN) third-quarter results exceeded Wall Street predictions, driven by its cloud segment’s consistent performance and a surge in advertising revenue. Following the report, Amazon shares climbed 6% in pre-market trading today.
For Q3, Amazon posted an EPS of $0.94, surpassing the expected $0.58. Revenue of $143.1 billion came in roughly in line with the Street estimate of $141.53 billion.
North American net sales increased by 11% year-on-year to $87.9 billion in Q3. While Amazon Web Services revenue grew by 12% to $23.1 billion, slightly below the projected $23.2 billion, its operating income soared by 29% to $6.98 billion. Advertising earnings rose by 26% to $12.06 billion year-on-year.
For Q4, Amazon predicts revenue between $160 billion and $167 billion, aligning with the anticipated $167.2 billion.