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Amazon Beats Q3 Forecasts, Especially On The Bottom Line
Amazon topped Wall Street estimates in the third quarter, with an 11% rise in revenue over the year-ago quarter and earnings per share of $1.43.
“There’s so much more coming,” he said in the earnings release, “from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities.” Quarterly numbers from Amazon and fellow tech giant Apple (also reporting Thursday) have been hotly anticipated by Wall Street as concerns mount that stock prices in the sector are overextended. The streaming giant recently secured NBA rights in a long-term deal kicking off next season and also is dipping a toe into live news with an election night special anchored by Williams.
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