News Formal

Amazon earnings beat estimates on sales but misses target for cloud

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Amazon reported its Q3 earnings after the bell. Here's how the ecommerce giant fared.

) reported its third quarter earnings on Thursday, beating expectations on net sales and EPS, but missing on its cloud revenue.

However, there were silver linings, as AWS sales were up 12% year-over-year and the division's operating income is also on the upswing, coming in at $7 billion, a roughly 29% increase from last year. “We had a strong third quarter as our cost to serve and speed of delivery in our Stores business took another step forward, our AWS growth continued to stabilize, our Advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,” said Amazon CEO Andy Jassy in a statement.Looking ahead, keep an eye on those operating margins.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon earnings: Beats estimates on sales, but misses target for cloudAmazon reported its Q3 earnings after the bell. Here's how the e-commerce giant fared.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Amazon earnings trounce estimatesAmazon's (AMZN) third quarter earnings topped Wall Street estimates. Earnings of $0.94 per share topped expectations of $0.58. Net sales of $143.08 billion...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »