Amazon's cloud unit records highest profit margin in at least a decade
Publishing timestamp: 2024-10-31 20:52:09
Summary
Amazon Web Services (AWS) has seen accelerated revenue growth for five consecutive quarters, with its highest profit margin since at least 2014. While sales just missed analyst estimates, AWS remains a leader in the cloud infrastructure market, outperforming Google and Microsoft. The artificial intelligence portion of AWS is also experiencing significant growth, with CEO Andy Jassy noting high demand for more capacity. Operating income for AWS exceeded expectations, with a wide operating margin of 38%. AWS is also making strategic moves, such as partnering with Oracle for database services and discontinuing certain services to focus on key areas.
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Keywords: business news, amazon.com inc, technology, alphabet inc, breaking news: technology, oracle corp, business, enterprise, microsoft corp,