Amazon (NASDAQ:AMZN) recorded net profit of US$9.88 billion, or US$0.94 per diluted share, in the third quarter of this year, a result that was well above the forecast of US$6.05 billion from analysts surveyed by FactSet, with earnings per share of $0.59.
Company’s shares rose 3% in the NY after market.
It was still well above the US$2.9 billion in the same period in 2022. The result was driven by increased sales in its retail and cloud computing units.
The company recorded US$143.1 billion in sales in the third quarter, a 13% growth year-on-year and above the forecast of US$141.5 billion. Product sales reached US$63.17 billion.
Sales in the company’s cloud service, AWS, increased 12% year-on-year, to US$23.1 billion, in line with analysts’ forecast of US$23.2 billion. Amazon said it expects operating profit of between $7 and $11 billion in the fourth quarter.
Net sales should be between US$160 and US$167 billion, or with growth of 7% to 12% compared to the fourth quarter of 2022. Operating income should be between US$7 and US$11 billion, from US$ 2.7 billion in the same period in 2022.