(Reuters) – Amazon reported third-quarter profit and sales on Thursday that beat Wall Street’s expectations, reassuring markets after expressing caution earlier this year and seeing its stock rebound in stock trading after -fence.

The title of the group based in Seattle, Washington, rose 6% after ending Thursday’s session down 3.4%.

Over the July-September period, Amazon recorded net income of $15.3 billion, compared to a consensus of $12.2 billion according to LSEG data. This is an increase of 55% over one year.

The Amazon Web Services (AWS) division, the largest provider of “cloud” services, recorded an increase in turnover of 19% to 27.5 billion dollars in the third quarter, an increase in line with analysts’ expectations according to LSEG data.

Three months earlier, executives at the tech giant had warned that consumers were being “cautious in their spending,” comments that caused Amazon shares to plunge 8% as the group faces increased competition from retailers. low priced like Shein and Temu.

Amazon’s advertising sales increased 19% to $14.3 billion in the third quarter, an amount slightly above expectations, thanks to its efforts to find advertising “niches”, notably via its ‘streaming’ platform.

The group’s sales in North America increased in the third quarter by 9% to $95.5 billion.

Amazon reported earnings of $1.43 per share, compared to consensus of $1.14.

It recorded quarterly revenue of $158.9 billion, beating analysts’ expectations of an average of $157.20 billion, according to LSEG data. This is an amount higher than the range communicated by the group in August ($154 billion to $158.5 billion).

(Deborah Sophia in Bangalore; Jean Terzian)

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