Bengaluru -- Amazon announced its third-quarter earnings on Thursday, reporting a net income of $15.3 billion, up 55% from $9.9 billion in the same period last year. The company's revenue reached $158.9 billion, surpassing analysts' expectations of $157.20 billion.
Amazon Web Services (AWS) recorded a 19% increase in sales to $27.5 billion. Operating margins improved significantly, with international margins rising to 3.6% from 0.9% in the previous quarter, while North America margins increased to 5.9%.
Despite previous warnings about cautious consumer spending, Amazon's North America segment saw a 9% revenue increase to $95.5 billion. Earnings per share were reported at $1.43, exceeding the anticipated $1.14.
In addition to strong retail performance, Amazon's advertising sales also rose 19% to $14.3 billion. The company is facing increased competition from discount retailers and is planning to introduce a new platform selling goods at lower prices directly from China.
Amazon's share prices rose 4% in after-hours trading following the earnings report, recovering from a 3.3% decline earlier in the day.