"Amazon has made its first financial disclosures since the disastrous outage suffered by its cloud computing division that brought everything from smart beds to banks offline. In spite of the global outage, Amazon Web Services has continued to grow, and this quarter reported a 20% increase in revenue year over year. Wall Street estimated that AWS would bring in $32.42bn in net sales in the third quarter, with the company reporting actual revenue of $33bn."
"The strong third-quarter earnings, which exceeded analysts' expectations, led the company's stock to spike up about 9% in after-hours trading. The earnings report highlighted Amazon's desire to compete with other companies that have managed to capitalize more aggressively on the AI boom. Amazon's stock has lagged behind some rivals in big tech, and its e-commerce business has been more susceptible to the effects of the Trump administration's sweeping and unpredictable tariff policies than firms more focused on software."
"The tech company, worth some $2.4tn, revealed that it easily beat Wall Street expectations through growth in its cloud computing services. Market analysts had predicted that Amazon would report $1.58 earnings per share and a net sales revenue of $177.82bn. The company reached $180.17bn in revenue and $1.95 earnings per share. AWS has faced increasing competition from alternative providers such as Google Cloud and Microsoft Azure, with the latter's partnership with OpenAI and reports of strong growth in its cloud business driving up its share price."
AWS reported 20% year-over-year revenue growth, generating $33 billion in third-quarter net sales versus Wall Street's $32.42 billion estimate. Amazon reported $180.17 billion in revenue and $1.95 earnings per share, beating projections of $177.82 billion and $1.58 per share. Strong AWS results pushed Amazon's stock up about 9% in after-hours trading. AWS faces rising competition from Google Cloud and Microsoft Azure, whose partnership with OpenAI has boosted cloud growth. A recent AWS outage disrupted websites, apps, and critical systems, affecting millions and underscoring AWS's central role in internet infrastructure.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]