Amazon misses on earnings and holds capex steady, adding to AI spending jitters
- Amazon reported third-quarter net sales of $201.9 billion and diluted earnings of $1.89 per share, below analysts’ expectations.
- Amazon forecast fourth-quarter sales of $240 billion to $247 billion, below Wall Street’s outlook.
- Amazon Web Services sales rose 39% to $46 billion, while advertising revenue increased 12% to $19.64 billion amid Prime Day timing effects.
- Amazon kept its capital-spending plan near $220 billion, while trailing-12-month free cash flow fell to a $42.4 billion outflow.
54 Articles
54 Articles
Amazon’s 3Q Results Miss Analysts’ Estimates, But Posts Solid Sales Gains In Cloud Computing Unit
NEW YORK (AP) — Amazon offered a cautious sales outlook for the current fourth quarter that encompasses the critical holiday shopping period after delivering fiscal third-quarter results that came in below Wall Street analysts’ expectations. The Seattle-based company, however, posted strong growth in its prominent cloud computing unit. Sales in its cloud computing unit called […]
Between July and September, Seattle's group generated revenues of $201.9 billion, up 12% over a year, slightly below the 202.2 billion expected by analysts, with a net profit down 2%, to $20.7 billion. Its Amazon Web Services (AWS) subsidiary, which leases computing power, notably for artificial intelligence (AI), accelerated its annual growth rate for the fifth consecutive quarter. The world's largest investment in this sector, it is ahead of A…
dagelijksestandaard.nl
Nieuws.nlSEATTLE (ANP/BLOOMBERG) - Technology and e-commerce giant Amazon achieved higher revenue and profit in the third quarter with its cloud division. Demand for computing power and server storage space is growing rapidly due to the rapid development of artificial intelligence, and Amazon is the world's leading...
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