AWS Growth Hits 39%, Its Fastest in Nearly Five Years, as Amazon Misses on Earnings
AWS revenue rose 39% to $46 billion as Amazon kept $220 billion in capital spending plans and free cash flow turned negative.
- Amazon reported third-quarter revenue of $201.9 billion, a 12% increase that reached the top of its forecast range but fell just under analyst expectations.
- Operating income beat expectations at $28.1 billion, but Amazon CEO Andy Jassy reported earnings of $1.89 per share, missing the $1.97 analysts expected due to higher interest costs.
- Amazon Web Services revenue grew 39% to $46 billion, its fastest pace in nearly five years, while online stores grew 2% to $68.5 billion and third-party seller services rose 9% to $46.5 billion.
- Shares fell more than 7% in after-hours trading after closing down 4% during the regular session, reflecting disappointment over earnings performance.
- Amazon expects fourth-quarter revenue between $240 billion and $247 billion, though costs for Amazon Leo and capital projects planned at 'meaningfully more' in 2027 will weigh on near-term profits.
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Amazon Climbs 5% as Upgrade Fuels Post-Earnings Rebound on AWS Strength; Walmart Rises 2%, Alphabet Edges Higher
Amazon just bounced hard off earnings that missed estimates, but the debate tearing Wall Street apart has nothing to do with the quarter itself. The real question is whether AWS profits can keep pace with a spending plan that is burning cash at a pace few saw coming.
Amazon Stock Rises as Phillip Securities Upgrades to Buy, Raises Target to $330
Amazon (NASDAQ: AMZN) shares rose 1% to $242.79 in Monday's premarket trading as Phillip Securities upgraded the stock from Accumulate to Buy and increased its price target from $320 to $330 following the company's third-quarter earnings. Analyst Helena Wang cited accelerating growth at Amazon Web Services (AWS), where third-quarter revenue increased 39.3% year-over-year to approximately $46 billion.Visit Website
Amazon offers cautious view after disappointing 3Q results but delivers strong cloud growth - WXXV News 25
By ANNE D’INNOCENZIO 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 tech giant, however, posted strong sales growth in its prominent cloud computing unit. Sales in its so-called Amazon Web Services...
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