Amazon Shares Rise After-Hours as Earnings, Revenue Beat

The company expects operating income to reach $16 billion to $20 billion in the fourth quarter, up from $13.2 billion a year earlier. The midpoint of that outlook is higher than the $17.5 billion expected by analysts, according to estimates compiled by Bloomberg.

Amazon CEO Andy Jassy cited 100 new cloud infrastructure and artificial intelligence (AI) capabilities, which he said the company will share at its AWS re: Invest the week that will be held after Thanksgiving Day in the U.S.

Net sales for the fourth quarter was forecast to rise to between $181.5 billion and $188.5 billion, including unfavorable impact of about 10 basis points from foreign exchange rates. The midpoint of that range is below the $186.4 billion expected by analysts.

"As we get into the holiday season, we’re excited about what we have in store for customers,” Jassy said. “We kicked off the holiday season with our biggest-ever Prime Big Deal Days and the launch of an all-new Kindle lineup that is significantly outperforming our expectations; and there’s so much more coming, from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video.”