Amazon 3Q Profit and Sales Miss Wall Street Estimates Despite Robust Cloud Division Growth

Yahoo Finance · 2026-10-29

Amazon reported fiscal third-quarter net sales and profits that fell short of Wall Street analyst expectations, although its major cloud computing division demonstrated formidable growth. The Seattle-based e-commerce and technology giant announced on Thursday that revenue for its AWS cloud unit surged 39.3% during the quarter ending September 30, accelerating from the 37% pace recorded in the prior period and marking the quickest growth rate in nearly five years. Following the earnings release, Amazon shares dropped more than 6% in after-hours trading as investors expressed concern over the core operations. Net income for the three-month timeframe reached $20.69 billion, or $1.89 per share, compared to $21.19 billion, or $1.95 per share, in the corresponding period last year. Total sales climbed to $201.94 billion from $180.17 billion a year ago, missing FactSet consensus estimates of $1.97 per share on $202.2 billion in revenue. Furthermore, the company issued a cautious outlook for the fourth quarter while gearing up for the upcoming holiday shopping season by hiring 300,000 seasonal workers in the United States, an increase from 250,000 workers last year.

AI 시장 분석

Amazon reported Q3 revenue of $201.94 billion and earnings per share of $1.89, missing Wall Street expectations. However, cloud division AWS revenue surged 39.3%, marking its fastest growth in five years. Due to the earnings miss and conservative Q4 guidance, the stock declined in after-hours trading. Investors are focusing on the profit stagnation of the core e-commerce business and year-end shopping season performance.

상승 영향

Cloud — AWS revenue increased by 39.3% quarter-over-quarter, recording the highest growth rate in five years and proving strong cloud demand.

하락 영향

E-commerce — Overall Q3 results missed Wall Street estimates and conservative Q4 guidance was provided, raising concerns over slowing profitability in the core retail business.

DYAX 전담 분석

Amazon's overall Q3 results fell short of expectations, putting direct downward pressure on the stock price. Meanwhile, AWS cloud revenue grew by 39.3%, proving its resilience, but concerns over slowing profitability in the core e-commerce segment weighed more heavily. This caused a short-term market adjustment, including a drop of over 6% in after-hours trading.

Future stock performance will be determined by how much the cloud segment's high growth can offset the e-commerce segment's sluggishness and whether year-end shopping season guidance is met. Key metrics to watch include whether AWS can maintain its profit margins and the actual Q4 revenue growth rate.

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