Amazon (AMZN.US) rose over 6% to its biggest intraday gain since February 2.
Friday, Nov 1, 2024 10:10 am ET
1min read Amazon (AMZN.US) opened higher on Friday, hitting its biggest intraday gain since February 2, up over 6% to $198.91 at the time of writing. The news was driven by the company's strong third-quarter earnings, which were released after the market closed on Thursday. The data showed that Amazon's Q3 revenue grew 11% year-on-year to $158.9 billion, topping market expectations; its operating profit was $17.4 billion, topping market expectations of $14.7 billion. Sky Canaves, an analyst at Emarketer, said: "Amazon's third-quarter results exceeded expectations thanks to strong performances in its three pillars of e-commerce, advertising, and cloud services."
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