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Amazon Reports Higher Sales and Earnings for 3Q, Helped by Its Fast-Growing Web Services Business
Amazon’s cloud computing unit grew 20%, boosting profits despite inflation; the company plans 14,000 corporate job cuts amid automation and AI investments.
- The results, announced Thursday, showed Amazon posted higher fiscal third-quarter profit with net income $21.12 billion, or $1.95 per share, beating Wall Street expectations.
- AWS grew 20%, and Andy Jassy, president and CEO of Amazon, said AWS is expanding at a pace not seen since 2022 as artificial intelligence drives meaningful improvements.
- Sales data show sales rose to $180.2 billion from prior-year sales $158.88 billion while items sold increased 11%, the company said.
- On Tuesday, Amazon announced corporate job cuts about 14,000, teams notified Tuesday, equal to about a 4% reduction in corporate workforce; Andy Jassy said the decision wasn’t financially or AI driven.
- Amazon set fiscal fourth-quarter sales range $206 billion to $213 billion, while last week AWS suffered a massive outage; the company is testing a new robotics system in South Carolina plus an AI agent for workforce deployment.
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The Batesville Daily Guard
The Batesville Daily GuardAmazon reports higher sales and earnings for 3Q, helped by its accelerating computing arm business
Amazon posted higher fiscal third quarter profit and sales compared with a year ago, as the online giant kept attracting shoppers looking for good prices while inflation resurges
·London, United Kingdom
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Associated Press News+6 Reposted by 6 other sources
Amazon reports higher sales and earnings for 3Q, helped by its fast-growing web services business
Amazon posted higher fiscal third quarter profit and sales compared with a year ago, fueled by accelerating growth in its cloud computing business and strong spending by its customers looking for low prices at a time when inflation is resurging.
·United States
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Total News Sources10
Leaning Left4Leaning Right1Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 38%
12%
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