Amazon Up 4% After In-Line Q3 Results
Amazon (NASDAQ: AMZN) is up more than four percent after reporting its third-quarter results.
The online retail giant reported a Q3 EPS of $(0.09), in-line with Wall Street's expectations.
Earnings per share were 85 percent from the year-ago period.
Revenue arrived at $17.09 billion versus the Street estimate of $16.77 billion. Sales were up 24 percent year-over-year.
"It's been a busy few months -- we launched a new Paperwhite and new Kindle Fires to positive reviews and surprised people with the revolutionary Mayday button -- average Mayday response times are just 11 seconds!” Amazon founder and CEO Jeff Bezos said in a company release.
"And that's not all. In the last 90 days, our AWS team got back to work on a big government contract, we brought 8 million square feet of fulfillment center capacity online, deployed 1,382 Kiva robots in three FCs, provided a new venue for artists to reach customers, signed up millions of new Prime members, announced Kindle MatchBook, Login & Pay, and nine new original TV pilots, joined the Code.org coalition, acquired TenMarks -- a company that helps kids with math, scored a win for customers who want to use Kindles on airplanes even during takeoff and landing (also, a big hat tip to Nick Bilton on that one), began hiring and training 70,000 new U.S. FC employees to help serve customers this holiday season, and saw the Kindle Million Club grow to include 14 KDP authors."
Shares of Amazon are up nearly 27 percent this year. Things started out slow for the company, which hovered between $250 and $270 during the winter and spring months. The stock began to soar early in the summer, and though it took a dive in August, it has been climbing fairly steadily ever since.
Amazon closed up 1.67 percent this afternoon, bringing the stock to $332.21.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.