From GeekWire (Seattle's own), October 29:
Amazon Web Services revenue grew 39% to $46 billion in the third quarter, its fastest pace in nearly five years, and Amazon CEO Andy Jassy said he expects the cloud unit to top 40% growth in both 2027 and 2028.
That wasn’t enough for investors. Amazon posted earnings of $1.89 per share, well short of the $1.97 analysts expected, as higher interest costs on its growing debt and other losses ate into its profit, even though its operating income beat expectations.
Revenue of $201.9 billion, up 12%, came in just under estimates. Shares fell more than 7% in after-hours trading, after closing down 4% during the regular session.
Amazon may need to count on its legendary willingness to be “misunderstood for long periods of time.” In the company’s earnings release, Jassy said Amazon’s retail business is gaining market share with improving margins. Retail sales, including online stores, physical stores and third-party seller services, totaled nearly $500 billion over the past 12 months, and AWS is now at a $184 billion annual revenue run rate.
“There has never been a trillion dollar revenue business, and we may have two of them in the next 5-10 years,” he said....
....MUCH MORE
Earlier at GeekWire (we did not link):
Amazon earnings preview: AWS is booked up, and Wall Street wants to know what comes next
After falling $10.81 (-4.25%) during the regular session the stock is down another $16.175 (-6.63%) in early afterhours action, $227.615 last.
Elsewhere, Intel had a bear market in an hour after a beat-but-no-raise but has bounced a little, currently down $15.00 (−16.29%).
