Amazon Q3 results tops estimates as cloud growth steadies

Investing.com -- Amazon reported third-quarter results Thursday that topped Wall Street estimates as growth in its cloud business continued to stabilize and advertising growth jumped.

Amazon (NASDAQ: AMZN) rose more than 3% in aftermarket trading following the report.

Amazon reported Q2 EPS $0.94 on revenue of $143.1 billion, beating estimates of $0.58 on revenue of $141.53B.

Net sales in North America rose 11% to $87.9B year-on-year in Q3.

Amazon Web Services, its cloud business segment, grew revenue 12% to $23.1B, slightly missing estimates of $23.2B, but operating income jumped to 29% to $6.98B.

Advertising revenue jumped 22% to $10.68B from a year earlier.

Looking ahead to Q4, the company forecast revenue in a range of $160B to $167B, in-line with expectations of $167.2B.

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