Amazon.com, Inc. (NASDAQ: AMZN) released its most recent quarterly results after the markets closed on Thursday. The company said that it had $5.75 in earnings per share (EPS) and $56.6 billion in revenue, which compares with consensus estimates from Thomson Reuters that called for $3.14 in EPS and $57.1 billion in revenue. The third quarter from last year had $0.52 in EPS and $43.74 billion in revenue.
In terms of its segments, the company reported:
- North America net sales increased 35.0% year over year to $34.35 billion, with an operating income of $2.03 billion.
- International net sales increased 13.4% to $15.55 billion, with an operating loss of $385 million.
- AWS (Amazon Web Services) net sales increased 45.7%, with an operating income of $2.08 billion.
Looking ahead to the fourth quarter, Amazon expects to see operating income in the range of $2.1 billion to $3.6 billion and net sales in the range of $66.5 billion and $72.5 billion. Consensus estimates are calling for $5.92 in EPS and $73.89 billion in revenue for the fourth quarter.
Jeff Bezos, Amazon founder and CEO, commented:
Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries. And we’re not slowing down – Amazon Business is adding customers rapidly, including large educational institutions, local governments, and more than half of the Fortune 100. These organizations are choosing Amazon Business because it increases transparency into business spending and streamlines purchasing, with increased control. The team is doing a fantastic job building and innovating for customers.
Shares of Amazon closed Thursday at $1,782.17, with a consensus analyst price target of $2,169.21 and a 52-week range of $968.55 to $2,050.50. Following the announcement the stock was initially down 6% at $1,676.00 in the after-hours session.