"The earnings report beat on top and bottom lines, with EPS of $1.95 vs. an estimated $15.7, and revenue of $180.17 vs. $177.80 estimated. Meanwhile, revenue from Amazon Web Services was $33 billion and revenue from advertising was $17.7 billion. Concerns about the company's enormous AI CapEx remain, but after the Q3 earnings call, the stock was rewarded by bullish investors."
"In October, leaked documents revealed that the company is aiming to replace around 600,000 Amazon jobs with robots, with the management team estimating that the effort could trim 30 cents off each item purchased via the e-commerce giant by 2027. In July, the company deployed its 1 millionth robot while also deploying its new AI foundation model to power its robotic fleet."
Shares of Amazon climbed following strong Q3 results, reaching the first all-time high since February and gaining 10.90% year-to-date. Q3 reported EPS was $1.95 versus an estimated $15.7, and revenue was $180.17 versus $177.80 estimated, with AWS generating $33 billion and advertising $17.7 billion. Significant AI capital expenditures remain a concern, yet investors responded positively to the earnings call. Leaked documents indicated plans to replace about 600,000 jobs with robots to cut per-item costs by $0.30 by 2027, and the company deployed its one millionth robot alongside a new AI foundation model. New low-cost Amazon Grocery products and large share sales by Jeff Bezos were also notable developments.
Read at 24/7 Wall St.
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