Nearly Tripled Profits Show Amazon Still Got It
Portfolio Pulse from Upwallstreet
Amazon.com Inc (NASDAQ: AMZN) has reported a YoY increase of 13% in revenue for Q3 2023, with net income more than tripling to $9.9 billion. The company's cloud service, Amazon Web Services, saw a 12% expansion in revenue, while its core e-commerce segment expanded by 7%. Advertising revenue also saw a significant increase of 26% YoY. Despite facing legal challenges and macroeconomic issues, Amazon is expecting robust margins to continue throughout the rest of the year.
October 27, 2023 | 5:08 pm
News sentiment analysis
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POSITIVE IMPACT
Amazon's strong Q3 2023 results, including a more than tripled net income and significant growth in multiple sectors, indicate a positive short-term impact on the company's stock.
Amazon's strong Q3 2023 results, including a more than tripled net income and significant growth in multiple sectors, are likely to boost investor confidence and have a positive impact on the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Microsoft's cloud revenue growth of 29% outpaced Amazon's 12% growth in the same sector, indicating a potential positive short-term impact on Microsoft's stock.
Microsoft's cloud revenue growth of 29% outpaced Amazon's 12% growth in the same sector. This indicates that Microsoft is gaining ground in the cloud sector, which could boost investor confidence and have a positive impact on the company's stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Google's cloud revenue growth of 22% was higher than Amazon's but lower than Microsoft's, indicating a neutral short-term impact on Google's stock.
Google's cloud revenue growth of 22% was higher than Amazon's but lower than Microsoft's. This indicates that Google is maintaining its position in the cloud sector, which could have a neutral impact on the company's stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Meta's Q3 ad growth of 23% was outpaced by Amazon's 26% growth, indicating a potential negative short-term impact on Meta's stock.
Meta's Q3 ad growth of 23% was outpaced by Amazon's 26% growth. This indicates that Meta is losing ground in the advertising sector, which could negatively impact investor confidence and the company's stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50