Amazon posted better-than-expected third-quarter profits with revenue up 13% over the quarter while profit margins were at a near-record high.

<div class="block">Amazon posted better-than-expected third-quarter profits with revenue up 13% over the quarter while profit margins were at a near-record high.</div>

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Amazon Reports Near-Record High Profit Margin

And as earnings season continues, it's been a very busy few weeks for you. Can you tell us about Amazon's results? That's right. So, Amazon reported better than expected third quarter profit and sales and that's not only boosting Amazon shares today but really the broader tech sector which has taken a beating earlier this week. So Amazon revenue was up 13% and profit margin was near a record high. The company has been working to cut costs for more than a year following a period of expansion during the pandemic. So with that strategy, Amazon has eliminated about 27,000 jobs while the company said it expects fourth quarter sales to be about 10% higher than a year ago. All right.