Amazon's $110 billion cloud business is minting profits even amid the expensive Gen AI arms race—but for how long? [Fortune]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: Fortune
company's $110 billion cloud-computing business, sending its stock soaring as much as 6% in after-hours trading. For the quarter, Amazon generated $1.43 in earnings per share on $158.9 billion in overall revenue, beating average analyst estimates of $1.14 per share and $157.2 billion, respectively. But it was Amazon Web Services, the company's cloud computing business that has become a major growth driver, particularly in the AI era, that really stood out in the fiscal third-quarter results. AWS operating income grew 50% year-over-year to $10.4 billion. Meanwhile, revenue in the unit rose 19% from the same period a year earlier to $27.5 billion, in line with analyst expectations. The division's operating profit margin was 38%, accelerating from 30% in the same period last year. The robust profits came even as Amazon, like its Big Tech peers, invests heavily on its own AI consumer products while also expanding its offerings of AI services and building blocks to corporate customer
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News
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- Amazon reports boost in quarterly profits, exceeds revenue estimates as it invests in AI [Yahoo! Finance]Yahoo! Finance
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- Amazon Bests Wall Street Earnings Estimates as Ad Sales Rise 19% in Q3 [Yahoo! Finance]Yahoo! Finance
AMZN
Earnings
- 10/31/24 - Beat
AMZN
Sec Filings
- 10/31/24 - Form 8-K
- 10/3/24 - Form 4
- 9/26/24 - Form 4
- AMZN's page on the SEC website