Amazon: 3Q Earnings Snapshot
SEATTLE (AP) _ Amazon.com Inc. (AMZN) on Thursday reported third-quarter earnings of $2.13 billion.
On a per-share basis, the Seattle-based company said it had net income of $4.23.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.46 per share.
The online retailer posted revenue of $69.98 billion in the period, surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $68.67 billion.
For the current quarter ending in December, Amazon said it expects revenue in the range of $80 billion to $86.5 billion. Analysts surveyed by Zacks had expected revenue of $86.78 billion.
Amazon shares have climbed 19% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Thursday, shares hit $1,780.78, a climb of 7% in the last 12 months.