English
Français
Deutsch
Italiano
Português
Русский
Español
ไทย
Türkçe
简体中文
日本語
한국어
हिन्दी
Key takeaways
- Amazon tripled its profit and surpassed revenue expectations for the third quarter
- But AWS came in a hair short of investor expectations
- Amazon’s stock price closed 0.6% down but gained 5% in after-hours trading with CEO Andy Jassy’s reassurance on the investors’ call
Earnings season is in full swing, and this week, the focus has been on Big Tech, with Amazon out the doors early on Thursday. The shopping titan’s third quarter was very strong, blowing revenue and earnings expectations out of the water, but the stock price reaction was flat at best.
Why? Cloud computing has captured Wall Street’s attention this quarter after watching Big Tech invest billions into what tech companies promised would be an AI-fueled boom. Market leader AWS was in line with estimates, which has left investors wanting more from the growth area.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
