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Amazon raises spending forecast to $125 billion as third-quarter results top estimates
Amazon's third-quarter results beat estimates with AWS growing 18.1% year over year and ongoing AI investments including an $11 billion data center, CEO Andy Jassy said.
- On Thursday, Amazon was slated to post third-quarter results after the closing bell, with LSEG analysts watching revenue of $177.8 billion and EPS of $1.57 alongside an AWS forecast of $32.42 billion.
- Following major AI moves, Amazon opened its $11 billion Project Rainier AI data center to train and run Anthropic's models, while Andy Jassy said AWS holds a `pretty significant` leadership position in AI but remains `very top heavy`.
- During the third quarter, Amazon held its annual Prime Day and plans to hire 250,000 seasonal workers, while Adobe reports $24.1 billion in U.S. online holiday spending.
- On Tuesday, Amazon cut about 14,000 roles as company executives signaled more reductions and more than 27,000 layoffs occurred from 2022–2023, while shares are up 4.9% so far this year.
- An extended AWS outage coincided with rivals' acceleration as Google deepened its cloud partnership last week, while Google cloud and Meta reported faster growth, increasing competition.
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8 Articles
8 Articles
The Amazon exceeded estimates of growth in the third quarter, inspired by cloud computing and by IA. The net profit reached $22.2 billion, supported by the investment in Anthropic.
·Portugal
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Amazon Forecasts Quarterly Revenue Above Market Estimates
·Washington, United States
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Coverage Details
Total News Sources8
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
Factuality
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