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Amazon (AMZN) Q3 2023 earnings results beat EPS & revenue estimates

Amazon reported some news that will surely please shareholders in its Q3 2023 earnings report.

Donovan Erskine

October 26, 2023 1:30 PM

Amazon

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Amazon (AMZN), one of the world’s biggest companies, has released its earnings report for the third quarter of the fiscal year. It chronicled the company’s financial performance over that period, showing that Amazon managed to beat both revenue and earnings expectations for the quarter.

Amazon’s Q3 2023 earnings report was shared in a press release today. The company made $143.1 billion against an expectation of $141 billion. The company also reported a gain of $0.94 per-share, comfortably beating the $0.58 estimate. Amazon CEO Andy Jassy provided a statement in the report.

The report also included an interesting tidbit about Amazon’s investment in Rivian, an EV manufacturer. “Third quarter 2023 net income includes a pre-tax valuation gain of $1.2 billion included in non-operating income (expense) from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation gain of $1.1 billion from the investment in third quarter 2022.”

The report also provided some insight into the performance of Amazon Web Services during Q3 2023. For more market news as it relates to technology, stay with us here on Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_