Amazon shares jump 6% after earnings beat
Publishing timestamp: 2024-11-01 16:30:35
Summary
Amazon shares rallied on Friday after better-than-expected third-quarter results driven by growth in cloud computing and advertising units. Stock is up 32% for the year. Revenue increased 11% to $158.9 billion, with earnings of $1.43 beating analyst estimates. Amazon plans to spend about $75 billion on capex in 2024 to support growing technology infrastructure. Advertising unit also saw strong growth. Forecast for current quarter fell slightly short of analyst estimates.
Sentiment: POSITIVE
Tickers: GOOG, AAPL, NVDA, MSFT, GOOGL, SNAP, AMZN, META,
Keywords: technology, business news, earnings, breaking news: technology, apple inc, microsoft corp, nvidia corp, amazon.com inc, breaking news: earnings, internet, andrew jassy, alphabet inc, snap inc, alphabet class c, meta platforms inc,
Source: https://www.cnbc.com/2024/11/01/amazon-shares-jump-after-q3-earnings-beat.html