Amazon Stock Jumps as $1.95 EPS Crushes Wall Street Forecasts

Amazon’s stock surged 9% after the company delivered a third-quarter earnings report that overwhelmingly beat analyst predictions. The company posted $1.95 earnings per share, a massive leap over the $1.58 consensus forecast.
Net sales revenue was equally impressive, hitting $180.17bn against an expected $177.82bn. The engine behind this success was the Amazon Web Services (AWS) cloud division.
AWS reported $33bn in revenue, a 20% year-over-year jump that marks its fastest growth since 2022. This performance is especially strong considering it follows a recent, high-profile global service outage.
The company is also pushing its AI credentials, touting the Rufus shopping assistant and the expansion of its Zoox robotaxi business. This is seen as a move to compete with other tech giants who have dominated the AI narrative.
Despite the blowout quarter, Amazon is in the midst of laying off 14,000 corporate workers. CEO Andy Jassy told investors the cuts were “not really financially driven” but were a “culture” move to foster startup-like agility.