Amazon’s third-quarter earnings report shows its cloud business is a juggernaut that even a massive global outage can’t derail. Amazon Web Services (AWS) grew its revenue by 20% year-over-year, hitting $33bn and surpassing the $32.42bn forecast.
This growth, the fastest since 2022, was the first financial disclosure since the outage took countless services offline. The strong numbers suggest customers remain locked into the AWS ecosystem, and it powered Amazon’s overall success this quarter.
The parent company reported $180.17bn in revenue and $1.95 EPS, both well ahead of analyst predictions. The news sent Amazon stock climbing 9% in after-hours trading.
The report also underscored Amazon’s desire to compete more aggressively in the AI boom. Executives mentioned the Rufus shopping assistant and the expansion of the Zoox robotaxi service as key initiatives.
These positive financials were delivered alongside news of 14,000 corporate job cuts. CEO Andy Jassy told investors the layoffs weren’t about money or AI, but about “culture” and adopting a “startup-style” operation.
Amazon Brushes Off Outage, Beats Wall Street With 20% AWS Growth
