Amazon shares gain over 6% on solid Q3 results, revenue forecast up 11% to $188.5 billion

E-commerce giant Amazon Inc. shares gained over 6 per cent on Friday, November 1, after the company posted stronger-than-expected earnings in its third-quarter results.

Amazon.com Inc. shares rose 6.30 per cent to $198.12 per share as of 1:50 p.m. (EDT) on Friday, compared to $186.40 at its previous close on Thursday.

The company’s revenues rose 11 per cent to $158.9 billion for the quarter ending September 30, compared year-on-year. Net profits were up to $15.3 billion, reported the news agency AFP.