Amazon's Q3 Earnings: EPS Surges, Revenue Up 13%, AI 'Driving Momentum With Customers' And More

Amazon.com Inc AMZN reported third-quarter financial results Thursday after the bell. Here's a look at the key metrics from the quarter. 

Q3 Earnings: Amazon said third-quarter revenue increased 13% year-over-year to $143.1 billion, versus the consensus estimate of $141.42 billion, according to Benzinga Pro. The company reported quarterly earnings of 94 cents per share, up from 28 cents per share on a year-over-year basis, beating the consensus of 58 cents.

AWS sales came in at $23.1 billion in the third quarter, up 12% year-over-year. 

North America sales jumped 11% year-over-year to $87.9 billion. International sales increased 16% year-over-year to $32.1 billion.

Operating cash flow increased 81% to $71.7 billion for the trailing 12-month period. Free cash flow came in at $21.4 billion for the same period. 

"The benefits of moving from a single national fulfillment network in the U.S. to eight distinct regions are exceeding our optimistic expectations, and perhaps most importantly, putting us on pace to deliver the fastest delivery speeds for Prime customers in our 29-year history," said Andy Jassy, CEO of Amazon.

"The AWS team continues to innovate and deliver at a rapid clip, particularly in generative AI, where the combination of our custom AI chips, Amazon Bedrock being the easiest and most flexible way to build and deploy generative AI applications, and our coding companion (CodeWhisperer) allowing enterprises to have the equivalent of an experienced engineer who understands all of their proprietary code is driving momentum with customers."

Holiday Quarter Outlook: Amazon expects fourth-quarter revenue to be between $160 billion and $167 billion versus estimates of $157.16 billion. Operating income is expected to be between $7 billion and $11 billion.

Management will hold a conference call to discuss these results at 5:30 p.m. ET.

Don't Miss This: Trading Strategies For Amazon Stock Before And After Q3 Earnings

AMZN Price Action: Amazon shares were up 3.23% after hours at $123.70 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Amazon.