Investors were again in for a surprise as Amazon revealed its third quarter earnings results. The net sales figure at $25.4 billion and EPS of 17 cents was not what everyone expected. Analysts had forecast a loss per share of 13 cents and sales of $24.91 billion.
The result is that the Amazon shares were trading 11 percent higher. The revenue expectation of Amazon is in the range of $33.5 billion to $36.75 billion. The company had suffered a loss of 95 cents per share and netted in sales of $20.6 billion in the same third quarter a year ago.
Amazon shares have doubled in valuation in the year to date period so far. One of the big strong point for Amazon was AWS which brought in income of $521 million compared with $98 million in the third quarter last year. Net sales from AWS stood at $2.085 billion which is a rise of 78 percent from the last year when it was at $1.169 billion.
Amazon also noted that it expects to create more than 140,000 seasonal jobs during the holiday season. The company continues to invest heavily in the new technology and services but some of the earlier investments like AWS are already breaking even and starting to bring in profit.