Amazon reports Q3 results, revs in-line; guides Q4 revs below consensus
- Reports Q3 (Sep) earnings of $0.28 per share, includes a pre-tax valuation gain of $1.1 bln included in non-operating income from investment in Rivian Automotive, appears to not be comparable to the S&P Capital IQ Consensus of $0.21; revenues rose 14.7% year/year to $127.10 bln vs the $127.47 bln S&P Capital IQ Consensus.
- Q3 operating income of $2.525 vs prior guidance of $0-3.5 bln.
- AWS segment sales rose 27.5% yr/yr to $20.54 bln with segment operating margin of 26.3% vs 30.3% last year.
- Advertising Services segment revenue grew +30% yr/yr CC (constant currency) to $9.55 bln vs +21% CC growth in Q2 and +25% CC in Q1.
- Co issues downside guidance for Q4, sees Q4 revs of $140-148 bln vs. $155.37 bln S&P Capital IQ Consensus. Co guides to Q4 operating income of $0-4 bln, which is light of street ests.