Shares of Amazon surged over 6% after the company reported better-than-expected third-quarter earnings. The company's revenue increased by 13% to $143.1 billion, while net income more than tripled to $9.9 billion, or 94 cents per share. Amazon's cost-cutting efforts, including layoffs and expense trimming, have boosted its operating margin to 7.8%, the highest since the first quarter of 2021. Analysts praised the results and highlighted the company's improvement in operating income growth and the potential of its various business segments, including AWS, grocery, healthcare, and satellite technology.

The post Amazon Shares jump as analysts praise third-quarter results appeared first on Balanced News Summary.