SEATTLE (dpa-AFX) - Amazon.com, Inc. (AMZN) on Thursday reported a drop in profit for the third quarter, reflecting the absence of a substantial investment gain recorded a year earlier, while net sales increased 12%.
Third-quarter net income was $20.69 billion, or $1.89 per share, compared with $21.19 billion, or $1.95 per share, in the prior-year quarter.
Net sales for the quarter increased 12% to $201.94 billion.
The decline in net income primarily reflected the absence of $9.5 billion in pre-tax gains from Amazon's investment in Anthropic, which boosted results in the year-ago quarter.
Operating income rose 61% to $28.08 billion from $17.41 billion a year earlier. Amazon Web Services (AWS) sales surged 39% to $45.98 billion, while AWS operating income increased to $17.77 billion from $11.43 billion.
For the fourth quarter, Amazon expects net sales of $240 billion to $247 billion, representing growth of 12% to 16% year over year. Operating income is projected to range from $28.5 billion to $33.5 billion, compared with $21.2 billion in the prior-year period.
AMZN fell 4.25% to close at $243.79 on Thursday. The stock declined a further 5.66% to $230.00 in after-hours trading.
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