Amazon shares jumped more than 10% in extended trading Thursday after the company posted third-quarter earnings that exceeded expectations, along with strong growth in its cloud-computing unit.
Here's how the company did, compared with estimates from analysts polled by LSEG:
Earnings per share: $1.95 vs. $1.57 estimated
$1.95 vs. $1.57 estimated Revenue: $180.17 billion vs. $177.8 billion estimated
Wall Street was also looking at other key revenue numbers:
Amazon Web Services: $33 billion vs. $32.42 billion expected, according to StreetAccount
$33 billion vs. $32.42 billion expected, according to StreetAccount Advertising: $17.7 billion vs. $17.34 billion expected, according to StreetAccount
Revenue in Amazon's cloud unit accelerated 20.2% during the quarter, blowing past analysts' expectations of 18.1%. Cloud growth has been a key area of concern for the company, as it faces intensifying pressure from rivals Google and Microsoft , which also reported quarterly results this week.
Google's cloud revenue increased 34% during the third quarter, while Microsoft Azure recorded growth of 40%.
Amazon CEO Andy Jassy said in a statement that AWS is "growing at a pace we haven't seen since 2022" and touted robust artificial intelligence demand.
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