North American “Big Tech” earnings season continues this Thursday, with Amazon announcing an increase in third-quarter net revenue of 11% year-over-year to $158.88 billion, versus forecasts of $157. .29 billion.
The e-commerce giant presented, after the close of the Wall Street session, earnings per share of $1.43, against estimates that pointed to $1.16, according to a consensus of analysts cited by Bloomberg.
Overall, net profit for the third quarter increased to 15.3 billion, compared to 9.9 billion recorded in the same period in 2023.
However, what is encouraging the company’s shares in the post-market, which accelerate 3.8%, is the net sales forecast for the fourth quarter, which the company sees in a range between 181.5 billion and 188.5 thousand million, against estimates of 186.36 billion.
Operating profits are expected to be between 16 billion and 20 billion in the current quarter, which encompasses the Christmas festive season, traditionally strong for Amazon sales. Forecasts pointed to 17.5 billion.
Revenues from another important division for Amazon, the cloud unit, accelerated 19% to 27.5 billion in the third quarter, with operating profits from Amazon Web Services reaching 10.4 billion, compared to the projection of 9.12 billion.
Source: www.jornaldenegocios.pt
