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Amazon (AMZN) Q3 earnings report 2023



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Andy Jassy, CEO, Amazon



Amazon reported earnings after the bell. Listed below are the outcomes.

  • Earnings per share: 94 cents per share vs. 58 cents per share anticipated by LSEG, previously often known as Refinitiv.
  • Income: $143.1 billion vs. $141.4 billion anticipated by LSEG.

Buyers may also be enterprise models:

  • Amazon Net Providers: $23.2 billion in anticipated income, in accordance with StreetAccount
  • Promoting: $11.6 billion in anticipated income, in accordance with StreetAccount

After Amazon’s progress slowed dramatically final 12 months attributable to rising inflation and financial considerations, enlargement has ticked up a bit in 2022, although it is nonetheless weaker than ordinary for the corporate. Amazon’s retail enterprise is predicted to point out some enchancment from customers tepidly resuming discretionary spending.

Analysts predict total income progress of 11% within the third quarter, marking a slight acceleration from the previous couple quarters. E-commerce gross sales boomed throughout the pandemic, then slowed as buyers returned to bodily shops.


Buyers might be listening carefully to commentary in regards to the fourth quarter, which incorporates the essential vacation interval. The December quarter may also embrace the outcomes of Amazon’s Prime Day sequel, which befell in October and “outpaced” final 12 months’s occasion, in accordance with the corporate.

Analysts surveyed by LSEG are on the lookout for fourth-quarter earnings per share of 66 cents and income of $166.6 billion, a rise of near 12% from a 12 months earlier.


Amazon’s cloud computing enterprise, the corporate’s revenue engine, may also appeal to shut scrutiny from Wall Road. Progress at Amazon Net Providers has slowed in latest quarters as huge companies appeared to reel in spending.

The frenzy round generative synthetic intelligence is main to greater workloads within the cloud, which must be a boon for AWS and its rival public cloud distributors. However Amazon’s smaller opponents within the house, Google and Microsoft, have reported combined outcomes thus far.


Alphabet’s Google Cloud enterprise posted income of $8.41 billion, falling wanting consensus estimates of $8.64 billion. Gross sales in Microsoft’s Azure cloud unit grew 29%, sooner than the 26% anticipated by analysts, sparking some concern that the software program maker could be eating into AWS’ market share.

Amazon shares are up 42% this 12 months, topping the Nasdaq’s 23% achieve. Buyers have cheered the corporate’s cost-cutting efforts after it grew to become clear that Amazon, like lots of its tech friends, had expanded too rapidly throughout the pandemic.


CEO Andy Jassy, who succeeded founder Jeff Bezos on the helm in mid-2021, introduced in March that the corporate would lower 9,000 jobs on high of the 18,000 layoffs introduced from late final 12 months to January of this 12 months. Jassy mentioned the March spherical would have an effect on staff in Amazon’s promoting, cloud computing, Twitch livestreaming and human assets divisions. 

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