Amazon.com Inc. said Tuesday that third-quarter profit more than quadrupled on sales of electronics and jewelry.
The Seattle-based retailer posted net income of $80 million, or 19 cents a share, compared with $19 million, or 5 cents a share, a year earlier. Wall Street was expecting a profit of 18 cents a share for the most recent quarter. Revenue climbed 41 percent, to $3.26 billion.
Amazon said changes in foreign exchange rates throughout the quarter boosted sales by $75 million. Sales on U.S. and Canadian sites rose 42 percent in the quarter compared with a year ago, and international sales improved 40 percent. For the crucial holiday shopping quarter, Amazon said it expects sales between $5.1 billion and $5.45 billion.
The report came out after the close of trading.
In other earnings news:
– AT&T Inc. reported net income of $3.1 billion in the third quarter, a 41 percent jump from the year-ago quarter before its acquisition of BellSouth Corp. was completed.
The profit equated to 50 cents a share. Excluding costs and accounting effects of major acquisitions, the firm would have earned 71 cents a share, in line with estimates, according to Thomson Financial. Revenue surged to $30.1 billion from $15.6 billion. A year ago, when there were fewer shares outstanding, AT&T earned $2.2 billion, or 56 cents a share.
Although most of the quarterly gains were the result of the completed merger, AT&T reported continued growth in its wireless revenue. It added 2 million subscribers, the third-highest increase in the company’s history, in the first full quarter since the introduction of Apple Inc.’s iPhone, giving AT&T 65.7 million subscribers.
Shares of AT&T gained 85 cents, to $42.02, on the New York Stock Exchange.
– United Parcel Service Inc. said third-quarter earnings rose 3.8 percent, to $1.08 billion, or $1.02 a share, from $1.04 billion, or 96 cents a share, a year earlier. Excluding a one-time charge, Atlanta-based UPS would have earned $1.05 a share, beating estimates by 3 cents a share. Revenue increased 4.7 percent, to $12.21 billion.
The world’s largest shipping company also said fourth-quarter growth will be its slowest in four years, largely because of weak U.S. retail sales. The holiday season is typically UPS’ busiest shipping period of the year. International growth is expected to remain strong and help offset weaker U.S. conditions, executives said.
UPS stock added 55 cents, to $75.64, on the NYSE.
– JetBlue Airways Corp. reported its first third-quarter profit in two years, and also said it will pull out of two cities.
The New York-based carrier said it earned $23 million, or 12 cents a share, compared with a year-ago loss of $500,000, or break-even on a per-share basis. The most recent result topped estimates by 5 cents a share. Revenue increased 22 percent, to $765 million.
JetBlue stock rose 37 cents, to $9.45, on the Nasdaq stock market.
