"After reporting Q3 earnings on Oct. 30, AMZN hit its first all-time high since February. On the year, Amazon is up 2.27% and it has gained 11.80% over the past year. 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."
"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."
Amazon shares rose modestly in recent trading sessions and remain slightly positive year-to-date. The company reported Q3 results that beat top and bottom line estimates, with reported EPS of $1.95 and revenue of $180.17 versus estimates. AWS generated $33 billion in revenue and advertising produced $17.7 billion. Leaked plans indicate a goal to replace roughly 600,000 jobs with robots, potentially cutting $0.30 per item by 2027, and Amazon deployed its one-millionth robot alongside a new AI foundation model. Significant AI-related capital expenditures and broad market AI sell-offs raise questions about sustaining historic growth. Bezos sold nearly 3 million shares in July.
Read at 24/7 Wall St.
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