In its third-quarter earnings report on Thursday, Amazon said revenue at AWS increased 20% to $33 billion. Amazon Web Services is the world's top provider of cloud infrastructure, but is facing intensifying pressure from competitors Google and Microsoft.
Amazon is scheduled to report third-quarter earnings after markets close on Thursday, and all eyes are likely to be on the e-commerce giant's cloud business.
It's hard to avoid the fearful “AI bubble” comments these days, especially as the big technology companies move into earnings where, of course, there's a fairly high bar.
Amazon's quarterly results will reveal insights into recent layoffs and AI efficiency. AWS revenue growth is crucial, with Wall Street expecting an 18% year-over-year increase.
Amazon is heading into its latest earnings report as the laggard of the Magnificent Seven this year, and investors are looking for some key updates that could spark new momentum. Specifically, Wall Street wants to know more about its AI ambitions and how it plans to position itself against stiff competition from other Big Tech players like Microsoft and Alphabet.
Amazon's cloud chief Matt Garman says the company feels "quite good" about its AI investments. On Wednesday, Amazon announced the opening of its $11 billion data center in Indiana.
Amazon.com ( AMZN ) heads into its upcoming earnings report as the clear laggard among the Magnificent Seven. The stock is up just 5% year-to-date and has been essentially flat over the past three months, a period that's been broadly strong for large-cap tech.
AMZN's third-quarter results are expected to reflect steady gains from AWS momentum, driven by growing AI capabilities through Amazon Bedrock.
User complaints surged on tracking site DownDetector just after noon Eastern time, with most reports concentrated in the company's US-EAST-1 region.
Shares of Amazon.com Inc. (NASDAQ: AMZN) gained 4.81% over the past five trading sessions after gaining 1.43% the five prior, bringing the stock's year-to-date gain to 4.15%.
Two text messages sent out early Tuesday morning told some workers that their jobs had been eliminated, according to a report.
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