Amazon Shares Surge In Pre-Market As Q3 Earnings Beat Expectations

Benzinga Neuro

November 01, 2024

Amazon.com Inc (NASDAQ:AMZN) experienced a 6.77% rise in pre-market trading on Friday. This surge followed the announcement of third-quarter net sales hitting $158.9 billion, marking an 11% increase from the previous year.

According to Benzinga Pro, Amazon stock closed at $186.19 on Thursday and began climbing upwards during the pre-market session on Friday. At the time of writing, it was trading at $198.80.

The company’s earnings per share for the third quarter came in at $1.43, surpassing the Street consensus estimate of $1.14. This performance also exceeded the anticipated net sales of $157.2 billion, as reported by Benzinga Pro.

See Also: Alphabet Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Breaking down the sales figures, North America contributed $95.5 billion, marking a 9% year-over-year growth. International sales reached $35.9 billion, reflecting a 12% increase, while Amazon Web Services (AWS) reported $27.5 billion in sales, a 19% rise from the previous year.

Looking ahead, Amazon’s guidance for the fourth quarter anticipates net sales between $181.5 billion and $188.5 billion, representing a 7% to 11% year-over-year growth. The company also projects operating income to range from $16 billion to $20 billion in the upcoming quarter.

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Image via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari

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