Amazon reports Q3 earnings miss, shares tumble and analysts lift price targets
Amazon posted third‑quarter revenue of roughly $202 billion and operating income of $28.1 billion, missing consensus estimates. Earnings per share came in at $1.89. The results triggered a pre‑market decline of about 6‑7%, but many analysts upgraded their price targets, citing strong AWS growth and long‑term AI investments.
Why it matters
JPMorgan’s analyst Doug Anmuth said the company’s visibility supports a 40%+ growth outlook over the next two years, leading the firm to keep an Overweight rating and a $365 target. Bank of America raised its price objective to $317, and Morgan Stanley lifted its target to $335, indicating potential upside despite the short‑term share drop.
Key facts
- 1Operating income was $28.1 billion, up 61% year over year. seekingalpha.com
- 2Amazon’s 2026 capital spending plan remains about $220 billion, mainly for AWS. tradingview.com
- 3Earnings per share were $1.89. cnbc.com
- 4Trailing 12‑month free cash flow outflow was $42.4 billion. cnbc.com
- 5Premarket share price was $228.56. tradingview.com
Open questions
- Share decline reported as 6.3% versus nearly 7%.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.