Amazon's retail sales for the third quarter exceeded expectations, with a 7% increase to $61.41 billion. This positive news led to a 5.7% rise in shares during after-hours trading.
The company's advertising sales also experienced significant growth, climbing 19% to $14.3 billion. Looking ahead, Amazon is optimistic about the upcoming holiday quarter, expecting strong performance due to improved shipping times and a focus on lower-cost items. This positive outlook suggests a potentially favorable holiday season for retailers, despite previous concerns about consumer spending habits shifting towards more budget-friendly options.