Amazon posts 29% rise in sales for Q3; cloud sales up 45%: 4 things to know

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Amazon released its earnings results for the third quarter of 2018 on Oct. 25.

Here are four things to know about the Seattle-based e-commerce and tech giant's financial performance:

1. Amazon posted $56.6 billion in net sales for the third quarter, up 29 percent from $43.7 billion during the same period last year.

2. Product sales made up most of Amazon's third-quarter earnings at $33.7 billion, up 17 percent from the third quarter of 2017. Amazon attributed its remaining $22.8 billion in earnings to service sales.

3. The company reported $6.7 billion in net sales attributed to Amazon Web Services, its cloud computing service. This marks a 45 percent increase from one year prior, when Amazon reported $4.6 billion in net sales from AWS.

4. Amazon expects its net sales for the fourth quarter of 2018 to be in the range of $66.5 billion to $72.5 billion.

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