Following impressive Q3 earnings, which saw AWS sales climb 20% year over year to $33 billion and advertising services generating $17.7 billion, Amazon's stock jumped 12.4% to a record high of $250. The cloud and advertising sectors had strong growth, as evidenced by the 12% increase in total revenue to $180.2 billion.
Following a great September-quarter earnings beat that was fueled by substantial growth in its cloud and advertising businesses, Amazon's stock shot up 12.4% to a record high of $250 per share on the Nasdaq, putting it under the bull's eye on Friday, October 31.As clients continued to spend on AI-related workloads, the internet and online retail giant reported a 20% year-over-year increase in revenue from its closely watched cloud division, Amazon Web Services (AWS), which increased to $33 billion, exceeding analysts' projections of $32.5 billion.
Another significant growth driver was advertising services, which produced $17.7 billion in the quarter—much more than the market had anticipated.
Regarding the other segments, the revenue from third-party seller services increased by 12% to $42.5 billion, while the revenue from online store sales also increased by 10% to $67.41 billion.
Another significant growth driver was advertising services, which produced $17.7 billion in the quarter—much more than the market had anticipated.
Regarding the other segments, the revenue from third-party seller services increased by 12% to $42.5 billion, while the revenue from online store sales also increased by 10% to $67.41 billion.
With a 10.87% growth over the previous 12 months, Amazon's overall sales increased 12% year over year to $180.2 billion in Q3, bringing its total revenue to $670.04 billion.
Jassy stated on the analyst earnings conference call that the business has twice its AWS capacity, as measured by power, since 2022 and is on course to double capacity once more by 2027. In a press statement, Amazon CEO Andy Jassy stated, "We've been focused on accelerating capacity, and we continue to see strong demand in AI and core infrastructure."
Jassy stated on the analyst earnings conference call that the business has twice its AWS capacity, as measured by power, since 2022 and is on course to double capacity once more by 2027. In a press statement, Amazon CEO Andy Jassy stated, "We've been focused on accelerating capacity, and we continue to see strong demand in AI and core infrastructure."
0 Comments