{"id":198326,"date":"2023-10-27T10:00:00","date_gmt":"2023-10-27T14:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=198326"},"modified":"2023-10-27T11:52:35","modified_gmt":"2023-10-27T15:52:35","slug":"amazon-q3-earnings-digital-ad-revenue-growth-beats-google-meta","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/amazon-q3-earnings-digital-ad-revenue-growth-beats-google-meta\/","title":{"rendered":"Amazon Q3 Earnings: Digital Ad Revenue Growth Beats Google, Meta"},"content":{"rendered":"\n

AMZN rose more than 5% in the premarket after the company reported better-than-expected Q3 profit and revenue.<\/strong><\/p>\n\n\n\n

In an overall positive earnings week<\/a>, Amazon\u2019s (NASDAQ: $AMZN) Q3 2023 report<\/a> topped consensus estimates on top and bottom lines, sending the stock higher in Friday\u2019s premarket. One of the report\u2019s highlights was the company\u2019s digital ad sector, which saw stronger quarterly growth than its main competitors. <\/p>\n\n\n\n

AMZN Climbs 5.3% in Premarket as Q3 Reports Surpasses Estimates<\/h2>\n\n\n\n

Shares of Amazon rallied over 5% in premarket trading Friday after the e-commerce and cloud computing giant reported better-than-expected results for the third quarter. <\/p>\n\n\n\n

Specifically, the company posted earnings per share (EPS) of 94 cents, topping the consensus estimates of 58 cents. Net income more than tripled to $9.9 billion, up from $2.9 billion, or 28 cents per share, in the same quarter last year. The profit includes the pre-tax valuation gain of $1.2 billion from Amazon\u2019s recent investment in electric vehicle (EV) startup Rivian.<\/p>\n\n\n\n

Revenue reached $143.1 billion, exceeding the consensus projection of $141.4 billion. This marks an increase of 13% and underscores that Amazon is seeing decent growth following a challenging 2022 marked by record-high inflation and rising interest rates. <\/p>\n\n\n\n

Amazon Web Services, the company\u2019s most lucrative business unit, reported $23.1 billion in revenue, just below the analysts\u2019 estimates of $23.2 billion. Meanwhile, revenue from advertising stood at $12.1 billion, compared to the expected $11.6 billion. <\/p>\n\n\n\n

The giant\u2019s e-commerce business also recovered, growing 7% year-over-year, following a 4% expansion in the previous quarter.<\/p>\n\n\n\n

n an overall positive earnings week<\/a>, Amazon\u2019s (NASDAQ: $AMZN) Q3 2023 report<\/a> topped consensus estimates on top and bottom lines, sending the stock higher in Friday\u2019s premarket. One of the report\u2019s highlights was the company\u2019s digital ad sector, which saw stronger quarterly growth than its main competitors. <\/p>\n\n\n\n

AMZN Climbs 5.3% in Premarket as Q3 Reports Surpasses Estimates<\/h2>\n\n\n\n

Shares of Amazon rallied over 5% in premarket trading Friday after the e-commerce and cloud computing giant reported better-than-expected results for the third quarter. <\/p>\n\n\n\n

Specifically, the company posted earnings per share (EPS) of 94 cents, topping the consensus estimates of 58 cents. Net income more than tripled to $9.9 billion, up from $2.9 billion, or 28 cents per share, in the same quarter last year. The profit includes the pre-tax valuation gain of $1.2 billion from Amazon\u2019s recent investment in electric vehicle (EV) startup Rivian.<\/p>\n\n\n\n

Revenue reached $143.1 billion, exceeding the consensus projection of $141.4 billion. This marks an increase of 13% and underscores that Amazon is seeing decent growth following a challenging 2022 marked by record-high inflation and rising interest rates. <\/p>\n\n\n\n

Amazon Web Services, the company\u2019s most lucrative business unit, reported $23.1 billion in revenue, just below the analysts\u2019 estimates of $23.2 billion. Meanwhile, revenue from advertising stood at $12.1 billion, compared to the expected $11.6 billion. <\/p>\n\n\n\n

The giant\u2019s e-commerce business also recovered, growing 7% year-over-year, following a 4% expansion in the previous quarter.<\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted October 27, 2023 – Amazon Q3 Earnings: Digital Ad Revenue Growth Beats Google, Meta<\/a><\/p>\n\n\n\n

Disclosure:<\/strong> Tim Fries has no positions in any of the stocks mentioned, and has no plans to initiate any positions within the 72 hours following the publishing of this article. This article expresses the opinions of Tim Fries. Tokenist Media LLC has no position in any of the stocks mentioned, and does not plan to initiate any positions within 72 hours of the publishing of this article. Please consult our website policy for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"

AMZN rose more than 5% in the premarket after the company reported better-than-expected Q3 profit and revenue.<\/p>\n","protected":false},"author":501,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,8,9,22,26,3],"tags":[148,267,4919],"contributors-categories":[13710],"class_list":{"0":"post-198326","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-north-america","7":"category-region","8":"category-securities","9":"category-stocks","10":"category-text-articles","11":"category-traders-insight","12":"tag-amazon","13":"tag-earnings","14":"tag-tech-stocks","15":"contributors-categories-the-tokenist"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nAmazon Q3 Earnings: Digital Ad Revenue Growth Beats Google, Meta<\/title>\n<meta name=\"description\" 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