"But that was yesterday morning. Later on Thursday, Amazon reported some pretty spicy quarterly results. AWS growth topped 20%, the fastest since 2022. As you can see from the chart below, cloud competition has been the main concern, so this number was a relief. "We continue to see strong demand in AI," Amazon CEO Andy Jassy said. Translation: Flex, we're still the cloud boss."
"While AWS lags based on percentage growth, it's still much bigger than Azure and Google Cloud. What about the rest of Amazon's empire? Total revenue beat estimates, and profit margins hit a record 12%. Analyst Mark Mahaney summed the results up with one word: "Boom!!!" Those last two numbers might be even more important than the cloud print. Amazon chopped 14,000 jobs earlier this week."
Amazon reported stronger-than-expected quarterly results driven by AWS growth topping 20%, the fastest rate since 2022. AWS remains substantially larger than Azure and Google Cloud despite slower percentage growth. Total revenue exceeded estimates and profit margins reached a record 12%. The company cut 14,000 jobs earlier in the week, creating a contrast between cost-cutting and potential AI-driven productivity gains. Strong demand for AI from customers and internal efficiency improvements are cited as contributors to growth and profitability. The results suggest AI adoption may be raising operational efficiency and reducing workforce requirements across corporate roles.
Read at www.businessinsider.com
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