What's Going On With Amazon Shares Friday?

Amazon.Com, Inc. AMZN shares are moving higher on Friday after the company reported better-than-expected 2024 third-quarter earnings on Thursday.

What Happened: Amazon reported EPS of $1.43, beating analyst estimates of $1.14. In addition, the company reported sales of $158.9 billion, representing a 11% year-over-year increase and beating analyst estimates of $157.20 billion.

The company saw year-over-year growth of 9% in North American sales, a 12% increase in International sales and a 19% rise in Amazon Web Services (AWS) sales.

For the 2024 fourth-quarter, the company anticipates sales between $181.5 billion and $188.5 billion and operating income between $16 billion and $20 billion.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

AMZN Price Action: At the time of writing, Amazon shares are moving 6.68% higher at $198.85, according to data from Benzinga Pro.

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