Amazon's shares surged in premarket trading on Friday after the firm unveiled its third-quarter results, way ahead of analysts' predictions. Under the leadership of CEO Andy Jassy, the company has implemented a cost-containment policy in the past 12 months. This strategy has worked in its favor, with Amazon reporting an operating margin of 7.8%, its highest since achieving a peak of 8.2% in Q1 2021.Amazon shares rose over 6% on Friday after the company reported third-quarter earnings that were higher than the expected numbers. With CEO Andy Jassy's cost-cutting tactics paying off, Amazon's revenue came in at $143.1 billion, and its net income tripled to $9.9 billion, or 94 cents per share. The company posted an operating margin of 7.8%, higher than the 2% it reported in the same quarter a year ago. Analysts from multiple firms were impressed with the results, with Jefferies noting that the company was showing positive growth and real improvements to its margin profile, while Blair said Amazon was "taking back control of the generative AI narrative" and Goldman Sachs citing Amazon's long-term growth and earnings potential.
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