Alert: Reverse Split on 3SPA(1:8,500), 3SMI(1:35,000) and 3SSQ(1:16,00)

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Amazon Earnings Q3 2023

Posted:
Amazon Earnings Q3 2023

The company's Revenue Jumps 13% on account of robust Cloud Business

Amazon's for the third quarter jumped by 13% YoY to $143.1 billion as compared with $127.1 billion in the third quarter of 2022. (Source: Amazon)

On a segmental basis, North American segment sales jumped by a whopping 11% YoY to $87.9 billion. Moreover, International segment sales including foreign exchange fluctuations stood at $32.1 billion increased by 16% YoY. The company's Advertising revenue stood at $12.1 billion marking a jump of 26% YoY from the same period last year. AWS, the company's highly lucrative cloud computing platform, is a prime driver of revenue for the company however recently has experienced a recent slowdown in sales growth. AWS sales for Q3FY23 were up by 12% to $23.1 billion. (Source: Amazon)

Amazon's nascent ads business reported an accelerating revenue growth of 26% YoY to $12.1 billion for the third quarter and has emerged as the company's fastest-growing business line.

Sales of Amazon's core e-commerce business were one reason for robust revenue growth witnessing  7% growth YoY following a 4% growth in the preceding quarter. Notably, this growth was the result of this year’s Prime Day promotion, which took place in July. The company mentioned it to be the biggest-ever sale. (Source: Amazon)

The Technology giant's net income increased more than three times to $9.9 billion from $2.9 billion same period a year ago. (Source: Amazon)

Amazon for Q3FY23 reported its highest operating margin in recent quarters, reaching 7.8%, since its highest operating margin of 8.2% in Q1 of 2021. This operating margin represents the profit left after deducting the expenses of running the business. Just a year ago, it stood at a mere 2%, and historically, it typically remained in the low single digits. (Source: Amazon)

The company's cost-cutting strategy in the past year was seen in its robust margin rebound. The company since last year has laid off 27,000 employees and it’s cut down some of its more unprofitable bets. (Source: Amazon)

Amazon forecasts Q4 revenue including the key holiday period to be in the range of $160 billion and $167 billion. (Source: Amazon)

Amazon stock jumped more than 3% in after-hours trading immediately after the earnings report was released on October 26. (Source: CNBC)

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