Reported about 10 hours ago
Amazon reported a notable increase in sales and profits for the third quarter, driven by strong consumer spending and robust growth in its cloud computing sector, AWS. The results surpassed Wall Street predictions, though the company issued a cautious sales outlook for the fourth quarter due to economic uncertainties. Despite announcing a reduction of 14,000 corporate jobs to focus on artificial intelligence, the company experienced a share jump of 11% in after-hours trading, reflecting investor confidence in its growth strategies.
Source: YAHOO