CNBC October 26, 2023
Key Points
– Amazon blew past analyst expectations for revenue and earnings in the third quarter.
– Revenue climbed 13% in the quarter, a sign that the business is seeing some acceleration after a difficult 2022 that was marred by soaring inflation and rising interest rates.
– The mid-point of Amazon’s fourth-quarter forecast was below analysts’ estimates.
Amazon reported third-quarter earnings and revenue on Thursday that sailed past analysts’ estimates. The stock initially popped in extended trading, but then gave up most of its gains.
Here are the results:
- Earnings per share: 94 cents per share vs. 58 cents per share expected by LSEG, formerly known as Refinitiv.
- Revenue: $143.1 billion vs. $141.4 billion expected by LSEG.
Investors...
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