Amazon profit soars 55% in Q3 driven by cloud growth

Quick Summary:

Amazon reported strong third-quarter results, with profit soaring 55.2%, fuelled by robust growth in its cloud computing business, which energised investor sentiment.

And so, I think we have proven over time that we can drive enough operating income and free cash flow to make this very successful return on invested capital business,” Jassy explained.“We expect the same thing will happen here with generative AI.

The Seattle-based company reported a bottom line of $15.3 billion in its third quarter ended September 30, 2024, compared with $9.9 billion earned in the year-ago period.

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Article Details

Author / Journalist: Ishan Patra

Category: StartupsEconomyBusiness

Markets: India

Topics: Sales Cloud Amazon’s “we Growth Services Billion Business Jassy Strong Amazon

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 08:06:43 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 728 words

Reading Time: 5 minutes read

Sentences: 33 lines

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News ID: 23362373

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