Amazon Q3 profits and sales miss analyst expectations

Summarised from 2 outlets · Updated 29 Oct, 21:38 · Archive

Amazon reported net income of $20.69 billion in its fiscal third quarter, below analyst forecasts, though its cloud computing division grew strongly.

Amazon reported fiscal third quarter net income of $20.69 billion, or $1.89 per share, on sales of $201.94 billion for the three-month period ended 30 September. Both figures fell short of analyst expectations of $1.97 per share on $202.2 billion in revenue, according to FactSet.

The company's AWS cloud computing unit delivered strong results, with sales rising 39.3 per cent, the fastest growth rate in nearly five years. This bright spot was offset by disappointment in the core business, with shares falling more than six per cent in after-market trading when results were released.

Amazon offered a cautious outlook for the fourth quarter, forecasting sales between $240 billion and $247 billion, representing 12 to 16 per cent growth compared with the year-ago period. Analysts had expected $244.16 billion.

How it is being reported

• Amazon's Q3 results miss analysts' estimatesAmazon has reported net income of $US20.69 billion during its fiscal third quarter.The West Australian · 29 Oct, 21:14
• Amazon's Q3 results miss analysts' estimatesAmazon has reported net income of $US20.69 billion during its fiscal third quarter.Perth Now · 29 Oct, 21:14

In this story: Amazon · AWS · Seattle · Wall Street · FactSet

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