LOS ANGELES (AP) 鈥� reported a boost in its quarterly profits Thursday and exceeded revenue estimates, sending the company's stock up in after-hours trading.
For the three months that ended on Sept. 30, the Seattle-based tech giant posted a revenue of $158.9 billion, higher than the $157.28 billion analysts had expected.
The Seattle-based tech company said it earned $15.3 billion, higher than the $12.21 billion industry analysts surveyed by FactSet had anticipated. Amazon earned $9.9 billion during the same period last year. Earnings per share were $1.43, higher than analysts鈥� expectations of $1.14.
Net sales increased 11% compared with the third quarter of 2023, Amazon said.
Thursday鈥檚 report offers the last look at Amazon鈥檚 business before the start of the holiday shopping season, the busiest time of year for the retail industry.
鈥淎s we get into the holiday season, we鈥檙e excited about what we have in store for customers,鈥� said Andy Jassy, Amazon's president and CEO. 鈥淲e 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鈥檚 so much more coming."
The company鈥檚 results follow other earning reports this week from tech giants such as Microsoft, Meta and Google鈥檚 corporate parent, Alphabet.
Sarah Parvini, The Associated Press
