Amazon's third-quarter 2024 performance significantly exceeded expectations, with revenue climbing 11% to $158.9 billion and earnings per share reaching $1.43, surpassing the projected $1.14. The cloud division AWS stood out, with its operating profit soaring nearly 50% to $10.4 billion. This impressive showing catapulted Amazon's stock by over 6% to $197.93 on Friday, approaching its July peak. The company's market capitalization now stands at $2.09 trillion, solidifying its position as the world's fifth most valuable enterprise.
Optimistic Outlook Amid Market Volatility
For the fourth quarter, Amazon forecasts revenue between $181.5 and $188.5 billion, with an operating profit ranging from $16 to $20 billion. This positive outlook dispels investor concerns amidst a volatile tech market. Analysts praise the company's "record-high margin" and its structural adaptability to shifting consumer habits. Amazon's robust position, particularly in cloud services, distinguishes it from competitors in a challenging market environment. Experts believe the company is well-positioned to benefit from changing consumption patterns in times of tighter budgets.
Ad
Amazon Stock: New Analysis - 03 NovemberFresh Amazon information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
Read our updated Amazon analysis...