Amazon Beats Q3 Earnings as AWS Growth Accelerates, Plans $125B Investment Despite 14,000 Layoffs
Summary
Amazon surpasses Q3 earnings expectations with $1.95 per share and $180.17 billion revenue while AWS cloud division accelerates growth to 20.2%, prompting the company to boost 2025 capital spending to $125 billion even as it cuts 14,000 corporate jobs to streamline operations.
Key Points
- Amazon beats Q3 earnings expectations with $1.95 per share versus $1.57 estimated and revenue of $180.17 billion versus $177.8 billion expected
- AWS cloud revenue accelerates 20.2% to $33 billion, the fastest growth pace since 2022, though still trailing Google's 34% and Microsoft's 40% cloud growth
- Amazon raises capital expenditure forecast to $125 billion for 2025, up from $118 billion, while announcing layoffs of 14,000 corporate employees to reduce bureaucracy