- Amazon reported third-quarter sales and profit figures that beat analyst estimates.
- But AWS revenue slightly missed forecasts.
- CEO Andy Jassy discussed AI, advertising, and AWS “headwinds” during the earnings call.
Amazon reported third-quarter earnings on Thursday, with both sales and profit beating analyst forecasts. However, the company fell slightly short of estimates for AWS revenue.
During the earnings call, Amazon CEO Andy Jassy and CFO Brian Olsavsky discussed topics ranging from AI to advertising spending to continued AWS “headwinds.”
The executives said Amazon continues to make significant investments in generative AI — which they said was already a “significant” business for the company — and warehouse robots.
Jassy said he remained bullish on AWS, and sees “a lot of growth” in the longterm.
Amazon’s stock was up 42% year-to-date, through Thursday’s close, far outpacing the benchmark S&P 500. Shares popped 5% immediately in after-hours trading following the earnings report.
Read the full article here