Reported 25 days ago
Amazon.com Inc. has reported impressive third-quarter results, highlighting a resurgence in its cloud services and e-commerce sectors, alongside effective cost-cutting measures. Revenue grew 11% to $158.9 billion, with a notable 19% increase in its cloud division's revenue. Operating profit significantly exceeded expectations at $17.4 billion. The company's CEO emphasized a major focus on artificial intelligence investments, forecasting substantial capital expenditures for the upcoming year, which excited investors and led to a notable rise in Amazon's share price.
Source: YAHOO