Amazon, the world's largest e-commerce company, said on the 30th (local time) that it posted third-quarter (July–September) revenue of $180.2 billion (258 trillion won) and earnings per share of $1.95 (2,785 won).
Quarterly revenue beat Wall Street's consensus compiled by market research firm LSEG of $177.8 billion (253.9873 trillion won), and earnings per share also came in higher than the $1.57 forecast.
Revenue at Amazon Web Services (AWS), the cloud institutional sector, came in at $33.0 billion (about 47 trillion won) on the back of the expansion of the artificial intelligence (AI) market, up 20.2% from a year earlier. It is the largest annual growth rate since late 2022 and exceeds market analysts' growth rate forecast of 18.1%.
Chief Executive Officer Andy Jassy said, "AI is driving meaningful performance improvements across the business, sustaining growth momentum for Amazon as a whole."
He added, "Demand for key infrastructure such as AI is firming," and said, "We have focused on expanding capacity, adding more than 3.8 GW (gigawatts) over the past 12 months for data centers."
However, AWS's revenue growth is lower than that of competing cloud institutional sector services Google Cloud (34%) and Microsoft Azure (40%).
Broadcast network CNBC analyzed, "Amazon still holds its position as the leading company in the cloud infrastructure technology institutional sector, but it has worked to overcome the perception that it is missing out on high-margin AI deals in the cloud services institutional sector."
Amazon recently unveiled its $11.0 billion (5.7157 trillion won) AI data center, "Project Rainier," located in Indiana. The data center will be used exclusively by Anthropic's AI chatbot Claude.
Amazon's third-quarter operating profit was $17.4 billion (about 25 trillion won). Amazon said the operating profit for the quarter reflects a $2.5 billion payment to the Federal Trade Commission (FTC).
Earlier, the FTC filed a lawsuit alleging Amazon violated the law by adopting so-called "dark patterns" that make it difficult to cancel its paid membership program "Amazon Prime," and Amazon agreed to pay $2.5 billion, including $1.0 billion in civil penalties and $1.5 billion in consumer refunds.
After the close that day, Amazon's share price jumped more than 14% from the closing price of $222.86 to $254.47.