Amazon CEO Andy Jassy speaks at the Bloomberg Technology Summit in San Francisco on June 8, 2022.
- Amazon reported a beat on the top and bottom line for the third quarter.
Amazon reported better-than-expected earnings and revenue for the third quarter, driven by growth in cloud computing and advertising. The stock ticked higher in extended trading.
Here are the results.
- Earnings: $1.43 vs $1.14 per share expected by LSEG
- Revenue: $158.88 billion vs $157.2 billion expected by LSEG
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Wall Street is also watching several other numbers in the report:
- Amazon Web Services: $27.4 billion vs. $27.5 billion expected, according to StreetAccount
- Advertising: $14.3 billion vs. $14.3 billion expected, according to StreetAccount
In cloud, Amazon Web Services revenue was in line with consensus estimates, but it's growing faster than the same period last year. Sales grew 19% year over year during the quarter, compared to a year ago, when sales accelerated just 12%.
Money Report
Advertising was another bright spot. Sales in the unit expanded 19% year over year to $14.3 billion during the quarter, outpacing growth in Amazon's core retail business.
This story is developing. Check back for updates.
