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Amazon stock jumps 6%; Q3 revenue up 11% to $158.9B; profits hit $15.3B; AWS sales up 19%

GeekWire

Amazon Web Services met expectations with $27.4 Amazon Web Services: Amazon’s cloud business was up 19% at $27.4 Advertising: The company’s ad business brought in $14.3 Analysts expected revenue of $157 billion and earnings per share of $1.14. Shares were up 6% in after-hours trading on Thursday. billion, with $10.4

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AWS growth slows further by persistent macroeconomic uncertainty

CIO Business Intelligence

Revenue growth at Amazon’s cloud computing division, Amazon Web Services, continued to slow in the fourth quarter as enterprises advanced their cost-cutting measures, brought on by uncertain macroeconomic environment. Amazon Web Services, Cloud Computing Despite a 20% year-on-year increase in revenue, reaching $21.4

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Amazon’s quarterly profits soar to a record $20 billion, but cloud growth comes up short

GeekWire

However, growth in the closely watched Amazon Web Services cloud unit was slightly lower than expected, with sales of $28.8 Third-party seller services sales were nearly $47.5 Revenue from advertising was $17.3 Quarterly profits surpassed $20 billion for the first time, up more than 88% from a year ago. billion, up 7.1%.

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Amazon earnings preview: Advertising and AWS expected to continue fueling profits

GeekWire

Analysts will be watching for continued growth in the company’s key profit drivers: advertising and cloud computing. Generative AI boosting cloud Analysts are expecting double-digit growth in Amazon Web Services. Demand for generative AI tools and services is boosting business for cloud providers.

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Where Amazon Web Services is still hiring after cutting hundreds of jobs this week

GeekWire

GeekWire Photo / Todd Bishop) Amazon Web Services announced hundreds of job cuts this week, in areas including training, sales, and physical stores technology, but noted that it’s still hiring in core areas of its business, with thousands of jobs currently posted. Amazon’s cloud unit cut hundreds of jobs this week.

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Amazon’s advertising business is surging amid industry-wide ad sales boom for tech giants

GeekWire

Amazon’s advertising business continue to grow rapidly as it is now one of the company’s key sources of revenue. Other Amazon businesses are not growing as quickly — sales from the online stores category grew 16% in Q2 2021, for example, and Amazon Web Services sales grew 37%. (GeekWire Photo). billion last quarter.

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Advertising surge lifts Amazon’s ‘Other’ segment past subscription business, on pace to rival AWS

GeekWire

Amazon’s Q4 2020 earnings last week were understandably dominated by news that CEO Jeff Bezos is stepping down in Q3 2021 , to be replaced by Amazon Web Services chief Andy Jassy. That spike is in line with gains from advertising giants Google and Facebook. This is part of a larger pattern. “It was up $2.5