Home Top Stories Amazon shares pop on earnings beat, cloud growth

Amazon shares pop on earnings beat, cloud growth

9
0
Amazon shares pop on earnings beat, cloud growth


Amazon CEO Andy Jassy speaks at the Bloomberg Technology Summit in San Francisco on June 8, 2022.

David Paul Morris | Bloomberg | Getty Images

Amazon reported better-than-expected results for the third quarter on Thursday, sending the company’s stock up more than 6% in extended trading.

Here are the results.

  • Earnings: $1.43 vs $1.14 per share expected by LSEG
  • Revenue: $158.88 billion vs $157.2 billion expected by LSEG

Wall Street is also watching several other numbers in the report:

  • Amazon Web Services: $27.4 billion vs. $27.5 billion expected, according to StreetAccount
  • Advertising: $14.3 billion vs. $14.3 billion expected, according to StreetAccount

In cloud, Amazon Web Services revenue was in line with consensus estimates, but it’s growing faster than the same period last year. Sales grew 19% year over year during the quarter, compared to a year ago, when sales were accelerating just 12%.

This story is developing. Check back for updates.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here