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Amazon AWS posts 39% revenue growth as cloud rivals also accelerate
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Amazon's cloud-computing unit reported more rapid third-quarter growth than analysts had projected.
Key facts
- The AWS segment generated $17.77 billion in third-quarter operating income, up 55% and more than the $16.97 billion StreetAccount consensus
- Revenue came in at $45.98 billion, up 39% year over year and above the $45.29 billion consensus among analysts polled by StreetAccount, according to a statement
- AWS came before Azure and the Google Cloud Platform, with its first services appearing in 2006
- WATCH: Big Tech earnings put AI spending and profitability in focus: Analyst
Summary
Revenue came in at $45.98 billion, up 39% year over year and above the $45.29 billion consensus among analysts polled by StreetAccount, according to a statement. "Our core compute and storage revenue grew at their fastest rates in several years," Amazon CEO Andy Jassy said on a conference call with analysts. Amazon remains the top cloud by revenue, but growth has also sped up at rivals Alphabet and Microsoft. All the major clouds have been racing to build data centers that can accommodate high artificial intelligence demand.