CNBC October 26, 2023
Key Points
– Amazon Web Services widened its operating profit margin, delivering higher operating income than expected, but revenue came in a bit light.
– During the quarter Amazon agreed to a big investment in artificial-intelligence startup Anthropic, which will work with various Amazon cloud services.
Amazon said Thursday that its cloud unit grew revenue 12% year over year in the third quarter. Analysts had expected a more rapid performance for the world’s top provider of computing and storage services delivered from faraway data centers.
The outcome suggests that the category, one of the liveliest parts of the mature information-technology sector, has gotten a touch of relief from the economic challenges brought on by rising prices and higher interest rates.
...Today's Sponsors
Today's Sponsor