Amazon strengthens its results as the AI battle takes shape
Amazon strengthens its results as the AI battle takes shape
Amazon is perhaps not yet the big winner in the artificial intelligence race between the technology giants. But he is not losing ground either.
The e-commerce titan’s third-quarter results Thursday evening seemed to paint a mixed picture on that front. Total revenue of $143.1 billion increased 13% from the same period last year, beating the 11% growth Wall Street expected. And operating profit soared to a record $11.2 billion from $2.5 billion in last year’s third quarter, beating analysts’ consensus target by almost half. . This has been aided by strong growth in advertising and third-party seller services, both of which offer higher profit margins than Amazon’s more typical retail sales.
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