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Amazon reports better-than-expected results, as revenue jumps 13% - TL;DR CNBC

Amazon reports better-than-expected results, as revenue jumps 13%

Publishing timestamp: 2023-10-26 16:00:01


Summary

Amazon reported strong third-quarter earnings and revenue that surpassed analyst expectations. The company's core e-commerce business continued to recover, with net income more than tripling. Amazon's cost-cutting efforts have led to improved profit margins. The company's digital advertising revenue soared, outpacing competitors like Google and Facebook. However, Amazon's cloud unit, AWS, showed slower growth compared to Microsoft Azure and Google Cloud. CEO Andy Jassy remains optimistic about the outlook for AWS and the company's overall performance.


Sentiment: POSITIVE

Tickers: METARIVNGOOGLMSFTAMZNSNAP

Keywords: jeff bezossnap incearningsrivian automotive incamazon.com incmeta platforms incbreaking news: technologyalphabet incbreaking news: earningsmicrosoft corptechnologybusiness newsinternet

Source: https://www.cnbc.com/2023/10/26/amazon-amzn-q3-earnings-report-2023.html


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