Amazon's New Initiatives

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Amazon.Com, Inc. AMZN shares are moving higher on Friday after the company reported better-than-expected 2024 third-quarter <a href="https://www.benzinga.com/news/earnings/24/10/41664778/amazon-q3-earnings-highlights-revenue-beat-eps-beat-q4-guidance-new-kindles-significantly-outperfor">earnings on Thursday.</a>



What Happened: Amazon reported EPS of $1.43, beating analyst estimates of $1.14. In addition, the company reported sales of $158.9 billion, representing a 11% year-over-year increase and beating analyst estimates of $157.20 billion.



The company saw year-over-year growth of 9% in North American sales, a 12% increase in International sales and a 19% rise in Amazon Web Services (AWS) sales.



For the 2024 fourth-quarter, the company anticipates sales between $181.5 billion and $188.5 billion and operating income between $16 billion and $20 billion.



Analyst Changes: Following the earnings report, multiple analysts issued <a href="https://www.benzinga.com/quote/AMZN/analyst-ratings">price target adjustments</a>.



AMZN Price Action: At the time of writing, Amazon shares are moving 6.68% higher at $198.85, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



Related Link: <a href="https://www.benzinga.com/markets/equities/24/10/41674556/cathie-wood-bets-big-on-mark-zuckerberg-ark-pours-19m-into-meta-shares-dumps-palantir-and-tesla-">Cathie Wood Bets Big On Mark Zuckerberg: Ark Pours $19M Into Meta Shares, Dumps Palantir And Tesla Stock</a>



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Amazon shares are moving higher on Friday after the company reported better-than-expected 2024 third-quarter earnings on Thursday after the market closed.

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