Amazon Notches $17.1 Billion in Q3 Revenue, Beats Street
Amazon beat Wall Street’s expectations with $17.1 billion in revenue in the third quarter, compared to an average analyst estimate of $16.8 billion. That’s a 24 percent jump over the same quarter last year.
As expected, the company posted a loss, and it was exactly what analysts on average were expecting: Nine cents a share.
As for the all-important fourth quarter, Amazon didn’t totally extinguish concerns, raised by eBay last week, that consumer spending may not grow as quickly as originally expected. If Amazon hits the low end of its guidance, revenue would grow just 10 percent next quarter, the company said. The top end of the range would see revenue climb 25 percent.
On a call with media, CFO Tom Szkutak said the company was “optimistic” about the fourth quarter and “very excited about the inputs we see.”