Amazon.com Inc (AMZN)
Amazon adds $117bn to its valuation as Q3 numbers beat the Street
It was a result worth $117 billion to investors as Amazon.com Inc (NASDAQ:AMZN) beat the Street with its third-quarter numbers. After hours, shares in the online retailer and web servers group rose 6%, nudging the value of the business close to the $2 trillion mark.
Amazon said its shoppers keep choosing cheap items – and that's good for business
Amazon's customers are buying cheap products, the retailer's top execs said in its Thursday earnings call. Those products are being purchased frequently and in larger amounts, the execs added.
Amazon Q3 2024 Earnings Update
Amazon has posted another impressive quarter. Every part of the business seems to be trending well, and moving in the right direction. Except 1P, every segment of the business is growing at a double-digit rate. Both AWS and advertising grew at 19% YoY. Both North America and international segment posted their seventh consecutive YoY operating margin improvement.
Watch These Amazon Price Levels as Stock Jumps After Cloud Growth Drives Earnings Beat
Amazon (AMZN) shares rose 6% in extended trading on Thursday after the company surpassed Wall Street's third-quarter earnings estimates, boosted by growth in its cloud business and healthy e-commerce sales.
Amazon Earnings Provide Sneak Peak Into Short-Term Future Strategy
By now you probably know that Amazon exceeded revenue expectations for Q3 Thursday (Oct. 31) driven by the strength of its AWS cloud computing division and its fall sales events.
Amazon CEO Andy Jassy says he has a secret weapon in the AI wars
Amazon CEO Andy Jassy said AWS gives the company a leg up in the AI race. Jassy said AWS has shown that Amazon can handle the logistics for scaling AI.
Amazon's plan to tackle Temu, Shein? Sell more toothpaste
Amazon's push to offer more everyday essentials like toothpaste is hurting its average selling prices, but it is also a guard against rivals such as Temu and Shein who offer rock bottom prices on goods they ship from China.
Amazon.com, Inc. (AMZN) Q3 2024 Earnings Call Transcript
Amazon.com, Inc. (NASDAQ:AMZN ) Q3 2024 Earnings Call Transcript October 31, 2024 5:00 PM ET Company Participants Dave Fildes - VP of IR Andy Jassy - CEO Brian Olsavsky - CFO Conference Call Participants Doug Anmuth - JPMorgan Ross Sandler - Barclays Brian Nowak - Morgan Stanley Eric Sheridan - Goldman Sachs Colin Sebastian - Baird Justin Post - Bank of America Operator Thank you for standing by. Good day, everyone, and welcome to the Amazon.com Third Quarter 2024 Financial Results Teleconference.
Amazon CEO pledges AI investments will pay off as capital expenditures surge 81%
Amazon's capital expenditures jumped 81% in the third quarter from a year earlier. CEO Andy Jassy reassured shareholders that the company expects to make money on the investments, which are primarily tied to generative artificial intelligence.
Amazon CEO Says GenAI Is Growing Three Times Faster Than Cloud Computing Did
The growth of generative artificial intelligence businesses is surprising even the tech industry's most seasoned executives.
Amazon Q3: Double Beat Makes Shares Jump
Amazon.com, Inc.'s results beat expectations, especially on the bottom line. The company's business growth was weaker than that of Meta Platforms, Google, and Microsoft, however. Amazon is trading at a relatively elevated valuation, with earnings and free cash flow multiples of more than 40.
Amazon's CEO is even more bullish on the AI opportunity
Jassy emphasized aggressive investment in AI during a call with analysts. Amazon plans $75 billion in capex, and even more in 2025, mostly for cloud services.
