Zinger Key Points
- After the bell on Thursday, Amazon reported better-than-expected 2024 third quarter earnings.
- The company reported EPS of $1.43 beating analyst estimates of $1.14.
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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.
Related Link: Cathie Wood Bets Big On Mark Zuckerberg: Ark Pours $19M Into Meta Shares, Dumps Palantir And Tesla Stock
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