LOS ANGELES — Amazon on Thursday reported an increase in quarterly profit and beat revenue estimates, sending the company’s shares higher after hours.

For the three months ended Sept. 30, the Seattle-based tech giant reported revenue of $158.9 billion, higher than the $157.28 billion analysts expected.

The Seattle-based technology company said it earned $15.3 billion, more than the $12.21 billion expected by industry analysts surveyed by FactSet. Amazon earned $9.9 billion during the same period last year. Earnings per share came in at $1.43, above analysts’ expectations of $1.14.

Net sales increased 11% compared to the third quarter of 2023, Amazon said.

Thursday’s report offers the latest snapshot of Amazon’s business before the start of the holiday shopping season, the busiest time of year for the retail industry.

“As the holiday season approaches, we are excited about what we have in store for customers,” said Andy Jassy, ​​Amazon President and CEO. “We kicked off the holiday season with our biggest Prime Big Deal days and the launch of an all-new Kindle range that far exceeds our expectations; and there is so much more to come. »

The company’s results follow other earnings reports this week from tech giants such as Microsoft, Meta and Google parent Alphabet.