Amazon Q3 earnings top expectations

Get ready to start paying for premium Alexa skills as Amazon monetizes Echo

This guidance includes approximately 1,000 basis points of impact to the company's year-over-year growth rate from Whole Foods Market. After backing out the Whole Foods portion and currency exchange effects, Amazon's net sales still landed above that guidance range, stopping at $42.1 billion. Q3 net income was $256 million or 52 cents per diluted share, which was roughly flat compared to the year-ago period but demolished the 3 cents-per-share Thomson Reuters I/B/E/S analyst expectation cited by Reuters.

Operating income decreased 40 percent to 347 million dollars in the third quarter, which includes income of 21 million dollars from Whole Foods Market.

Amazon who are now tipping millions moving into new markets including Australia, has seen their shares rise 7% after reporting a 35% lift in USA revenues and a 29% lift in worldwide sales.

The e-commerce giant's service sales growth (44%) outpaced its product sales growth (29%), notes Profitero vice president of strategy and insights Keith Anderson.

Revenue from Amazon Web Services, the company's fast-growing cloud services business, surged 41.9 percent to $4.58 billion, beating the average estimate of $4.52 billion given in polling by data and analytics firm FactSet.

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O'Shea also noted revenue growth and operating income at AWS "more than offset" the loss Amazon took on through investments in its global business. The launch of new services like Amazon's unlimited music service in several European countries, and the rollout of Alexa services to India and Japan, have all taken their toll on the cost line.

Amazon's other huge announcement this quarter, the plan to build a second North American headquarters, will bring another 50,000 jobs to the winning bidder.

(Amazon often chooses to reinvest in operations, and many predicted the company would do so this quarter, as well.) Even more heartening, it offered a rosier outlook for the fourth quarter and says it expects sales to come in between $56 billion and $60.5 billion, or between 28% and 38%. Amazon slashed prices on a number of popular items at Whole Foods after it completed the merger.

With numbers like these, it's no surprise Amazon stock traded higher in after-hours trading following the company's third-quarter earnings release. After years of losses, this is Amazon's 10th straight quarter reporting net income. That's right - they think these 10 stocks are even better buys.

Amazon has changed the rules recently, and today we have news of the first for-pay skill on Amazon's voice assistant platform. The Motley Fool has a disclosure policy.

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