E-commerce leader Amazon.com Inc (NASDAQ:AMZN) reported third-quarter financial results after the market close Thursday. Here's what investors need to know. 

What Happened: Amazon reported third-quarter revenue of $127.1 billion, an increase of 15% year-over-year. The total came in shy of a Street estimate of $127. 84 billion according to data from Benzinga Pro.

The company reported earnings per share of 28 cents in the third quarter, beating a Street estimate of 22 cents per share.

Amazon reported revenue for the North American segment were up 20% year-over-year to $78.8 billion.

The international segment has third quarter revenue of $27.7 billion, down 5% year-over-year. Excluding the impact of foreign exchange rates, the international segment was up 12% year-over-year.

Amazon’s AWS segment had revenue of $20.5 billion, up 27% year-over-year.

The company’s net income included a pre-tax valuation gain of $1.1 billion related to a stock investment in Rivian Automotive (NASDAQ:RIVN).

“In the past four months, employees across our consumer business have worked relentlessly to put together compelling Prime Member Deal Events with our eighth annual Prime Day and the brand new Prime Early Access Sale in early October,” Amazon CEO Andy Jassy said.

Amazon highlighted the performance of “The Lord of the Rings: The Rings of Power” show, which had 25 million viewers on its first day and was the biggest debut in Prime Video history. The show has nearly 100 million viewers to date, the company reported.

Thursday Night Football had 15 million viewers for its first game and was highlighted by Amazon as a key event for Prime Video in the third quarter.

AWS continued momentum in the third quarter with additional wins. Amazon also announced plans in the third quarter to launch AWS Asia Pacific in Thailand and AWS Middle East (UAE) Region, its second region in the Middle East.

What’s Next: Amazon is guiding for fourth-quarter revenue to be in a range of $140 billion to $148 billion versus an analyst estimate of $155.15 billion, according to data from Benzinga Pro.

Guidance for operating income for the fourth quarter is a range of zero and $4 billion.

“We’re also encouraged by the steady progress we’re making on lowering costs in our stores fulfillment network, and have a set of initiatives that we’re methodically working through that we believe will yield a stronger cost structure for the business moving forward,” Jassy said.

Jassy said the company will balance its investments given the “macroeconomic environment.”

“What won’t change is our maniacal focus on the customer experience, and we feel confident that we’re ready to deliver a great experience for customers this holiday shopping season.”

AMZN Price Action: Amazon shares are down 19% to $90.04 in after-hours trading Thursday.

Read what analysts are saying about Amazon. 

Photo courtesy of Amazon.