From Financial Modeling Prep: 2024-11-01 11:27:00

Amazon.com (NASDAQ:AMZN) beat analyst expectations in Q3, with adjusted EPS of $1.43 and revenue of $158.9 billion, marking an 11% YoY increase. CEO Andy Jassy highlighted the growth in generative AI within AWS, with sales up 19% to $27.5 billion, driving triple-digit growth in AI-driven operations.

To meet the surge in AI demand, Amazon plans to increase capital expenditures on data centers and networking, with $75 billion earmarked for this year. The company expanded AI offerings like Rufus, its shopping assistant, and introduced new tools for sellers and advertisers, boosting North American sales by 9% to $95.5 billion and international sales by 12% to $35.9 billion.

Amazon’s Q4 revenue is projected to be between $181.5 billion and $188.5 billion, with operating income estimated at $16.0 billion to $20.0 billion. Operating margin hit a record 11%, and AWS margins reached an all-time high of 38%, indicating strong performance and growth in AI-driven services.



Read more at Financial Modeling Prep:: Amazon Shares Jump 7% on Strong Q3 Results