Amazon's Q3 Revenue Hits $158.9B, Operating Income Up 56% to $17.4B, EPS $1.43

Oct 31, 2024, 08:30 PM

Amazon reported strong financial results for its third quarter of 2024, exceeding analyst expectations in both revenue and earnings per share. The company announced net sales of $158.9 billion, an 11% increase year-over-year, surpassing the estimated $157.2 billion. Earnings per share rose to $1.43, significantly higher than the anticipated $1.14. Operating income increased by 56% to a record $17.4 billion, with operating margin reaching 10.9%. Operating cash flow jumped 57% to $112.7 billion, while free cash flow soared 121.5% to $47.7 billion. Amazon Web Services (AWS) saw robust growth, with revenue rising 19% year-over-year to $27.5 billion and operating income increasing nearly 49% to $10.4 billion, representing an operating margin of 38.1%. The international segment turned profitable, generating $1.3 billion in operating income. Advertising revenue surged 19% to $14.3 billion, reflecting the company's expanding advertising business. For the fourth quarter, Amazon provided revenue guidance between $181.5 billion and $188.5 billion and operating income between $16.0 billion and $20.0 billion.