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Amazon Tops Sales Estimates on Subscribers, Whole Foods

  • Grocery chain produced $21 million in profit after tie-up
  • Expenses increased at about the same pace as revenue
Bloomberg business news

Amazon Reassures Investors With 3rd-Qtr Earnings

Updated on Inc. showed investors it can run grocery stores, churn out gadgets, expand its cloud-computing business and invest in new markets, all while selling more products online and managing expenses.

The company reported third-quarter sales and profit that topped analysts’ estimates. The results reassured investors that the company can integrate its biggest-ever acquisition -- Whole Foods Market Inc. -- without disrupting its dominating e-commerce performance. Shares rose as much as 8.5 percent in extended trading. The stock closed at $972.43 in New York and has gained 30 percent this year.