Amazon Web Services (AWS) remains a dominant force, with its revenue climbing 20% year-over-year to $33bn. This growth, the fastest since 2022, came in its first financial report since a major global outage, which it appears to have weathered without financial harm.
The $33bn figure easily beat Wall Street’s $32.42bn estimate. This cloud success was the main engine for Amazon’s overall quarter, which also beat revenue and profit expectations, sending its stock up 9%.
The parent company’s total revenue hit $180.17bn. On the earnings call, executives turned the focus to AI, promoting the Rufus shopping assistant and the Zoox robotaxi business as key initiatives to compete with rivals.
This positive growth story was delivered alongside the news of 14,000 corporate job cuts.
CEO Andy Jassy offered a surprising justification, claiming the cuts were “not really AI-driven” but were a “culture” decision to “operate like the world’s largest startup.”
AWS Revenue Hits $33bn, Unscathed by Widespread Service Outage
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