Amazon stock skyrockets 13% after stellar Q3 earnings led by massive layoffs
Amazon stock surged 13% after stunning Q3 earnings crushed expectations. The tech giant posted $180.2 billion in revenue, up 13% year-over-year, with EPS at $1.95. AWS jumped 20% to $33 billion, its fastest growth since 2022, while ad revenue climbed 24% to $17.7 billion. CEO Andy Jassy confirmed 14,000 layoffs to make Amazon leaner and improve margins. The company projected Q4 revenue between $206–$213 billion, pushing shares to $222.86, their highest in months. Amazons turnaround looks unstoppable.
Amazon stock surged 13% after stunning Q3 earnings crushed expectations. The tech giant posted $180.2 billion in revenue, up 13% year-over-year, with EPS at $1.95. AWS jumped 20% to $33 billion, its fastest growth since 2022, while ad revenue climbed 24% to $17.7 billion. CEO Andy Jassy confirmed 14,000 layoffs to make Amazon leaner and improve margins. The company projected Q4 revenue between $206–$213 billion, pushing shares to $222.86, their highest in months. Amazons turnaround looks unstoppable.
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