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Amazon’s Mammoth Q3 E-com and Cloud Business Impresses Wall Street

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Amazon's $159 billion beats the estimates, as ad, cloud and e-commerce power on revenue growth.

’s third-quarter revenue haul of $158.9 billion topped analysts’ projected estimate of $157 billion, thanks to its growing ads, cloud andWeb Services, showed a 19 percent for the quarter ending in September, with revenue of $14.3 billion and $27.4 billion respectively. Sales from its online store, at $61.4 billion, marked an 8 percent increase over the same three-month period in 2023.

In a statement, Andy Jassy, Amazon’s president and chief executive officer, promised much more to come, “from tens of millions of deals, to our NFL Black Friday game and Election Day coverage with Brian Williams on Prime Video, to over 100 new cloud infrastructure and AI capabilities that we’ll share at AWS re:Invent the week after Thanksgiving.”

For now, in the just-wrapped third quarter, Prime and other subscription services zipped up $11.2 billion in revenue, for a year-over-year increase of 11 percent.

 

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