On October 30, after U.S. markets closed, Amazon reported third-quarter results that exceeded analysts' expectations, sending its stock up 13.16% in after-hours trading. In response to reports of 30,000 planned layoffs, Amazon's CEO clarified that the reduction is unrelated to the company's finances or AI initiatives.

Specifically, Amazon's Q3 revenue rose 13% year-over-year to $180.17 billion, surpassing analysts' forecast of $177.8 billion. Operating income reached $17.42 billion, flat compared to last year but below the expected $19.72 billion. Net income surged 38.2% to $21.19 billion, while earnings per share came in at $1.95, higher than last year's $1.43 and above the projected $1.57.

Amazon Web Services (AWS), the company's cloud computing segment, saw revenue climb 20% year-over-year to $33.01 billion—the fastest growth since 2022—exceeding the $32.42 billion analysts had predicted. Operating profit for AWS rose 9% to $11.4 billion, accounting for roughly two-thirds of Amazon's overall operating profit.

Amazon's core online retail business grew 10% in Q3, boosted by the Prime Day promotions held in July.

Looking ahead to Q4 (October–December), Amazon projects revenue between $206 billion and $213 billion, with a midpoint of $209.5 billion, slightly above analysts' $208 billion estimate. Operating income is expected in the $21–26 billion range, with a midpoint of $23.5 billion, marginally below the $23.8 billion forecast.

The company also raised its full-year capital expenditure forecast from $118 billion to $125 billion, with CFO Brian Olsavsky noting that 2026 spending is likely to increase further.

Recently, U.S. media reported that Amazon began notifying employees of upcoming layoffs on October 28, affecting nearly 10% of its workforce—around 30,000 positions.