Reported about 10 hours ago
Amazon's stock experienced a significant increase in after-hours trading, gaining over 9% to surpass $244, after the company reported third-quarter earnings that exceeded analysts' expectations, fueled by a 20% jump in Amazon Web Services revenue. Earnings per share rose to $1.95 from $1.43 a year ago, with total revenue reaching $180.2 billion, a 13% year-over-year increase. Despite anticipating significant layoffs of about 14,000 jobs, CEO Andy Jassy emphasized ongoing strong momentum in AI and infrastructure growth. The outlook for the fourth quarter projects revenue between $206 billion and $213 billion.
Source: YAHOO