Amazon Web Services (AWS) has proven its resilience, posting $33bn in quarterly revenue. This 20% year-over-year growth, the division’s fastest since 2022, comes just after a major global glitch took down services for hours.
The outage, which underscored the world’s dependence on AWS, did not stop the division from beating Wall Street’s $32.42bn revenue estimate. This performance helped Amazon’s overall stock spike 9%.
The parent company reported $180.17bn in total revenue and $1.95 earnings per share, both well ahead of analyst predictions. The report highlighted Amazon’s desire to compete in the AI boom.
Executives promoted the Rufus AI shopping assistant and the expansion of the Zoox autonomous driving service. These are part of Amazon’s effort to keep pace with rivals like Microsoft and Google.
Despite the strong growth, Amazon is cutting 14,000 corporate jobs. CEO Andy Jassy claimed this was a “culture” move to make the company “nimble,” not a decision driven by AI or finances.