Amazon reported third-quarter results well above Wall Street forecasts, with total revenue of $143.1 billion and earnings per share of 94 cents.
Revenue was up 13% from the same period last year, beating analysts’ consensus estimate of $133.4 billion. Analysts had expected earnings per share of 55 cents.
Shares of the tech giant are up 40% so far in 2023. After falling in recent sessions, they bounced back in after-hours trading on the earnings news.
The quarter marked the start of the second year of a major streaming initiative: exclusive coverage of the NFL Thursday night football Franchise. After a subdued mood compared to broadcast television in their debut year, Amazon’s games posted solid double-digit growth from 2022. The results release noted a 25% increase in viewership for the current season compared to last year, with an average viewership of 12.9 million. According to the company, the average age of viewers is 47, seven years younger than the NFL audience on linear television.
Prime Video also highlighted the value of NFL games to advertisers, doing its part with a Black Friday game the day after Thanksgiving, an always popular shopping year in both brick-and-mortar stores and online.
Advertising services, a line item in the company’s results that includes ad revenue from NFL streaming, rose 26% to $12.06 billion from the year-ago quarter. As the company has increased its advertising efforts on both Prime Video and sister player-focused platforms like Twitch and Freevee, it has seen year-over-year growth of at least 20% in each of the last few quarters. .
There is more to come…
Source: Deadline
Joseph Fearn is an entertainment and television aficionado who writes for The Fashion Vibes. With a keen eye for what’s hot in the world of TV, Joseph keeps his readers informed about the latest trends and must-see shows.
