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amazon stock

Revenues & Earnings Higher

US tech giant Amazon came out with a blistering set of Q3 earnings this week. Following on from the solid earnings beat in Q2, Amazon posted third-quarter earnings per share of $12.37, firmly beating expectations for a $7.41 EPS. This marks a 37% increase in earnings year on year for Amazon.

Revenues also rose firmly with the company posting record net-revenues of $96.15 billion. This comfortably beat expectations for $92.7 billion in revenues.

Finally, net income jumped to $6.3 billion over the quarter, marking a solid increase on the $2.1 billion posted in Q3 2019.

Strong Q4 Guidance

Looking ahead to the final quarter of the year, amazon forecast sales of between $112 billion – $121 billion. Sales in this range would mark a 28% – 38% increase on sales in the same period a year prior and would be above the $112.3 billion Wall Street is looking for.

Increased COVID Costs

The company is also forecasting operating income of $1 billion – $4...

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