"We've proven over time that we can drive enough operating income and free cash flow to make this very successful return-on-invested-capital business," CEO Andy Jassy told investors on a conference call late Thursday. He underlined confidence in their business strategy.
"And we expect the same thing will happen here with generative AI. It is a really unusually large, maybe once-in-a-lifetime type of opportunity," he added. Jassy emphasized long-term benefits from pursuing AI aggressively.
Amazon posted overall third-quarter revenue of $158.9 billion, an 11% increase from the year-earlier period and narrowly ahead of Wall Street forecasts. This strong performance highlights the company's resilience.
The group's operating margin widened to 11%, nearly 2 percentage points ahead of the consensus Wall Street forecast, thanks in part to shipping and logistic efficiencies and the group's ongoing cost cuts.
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