Amazon Web Services (AWS) continues to be a financial juggernaut, posting a 20% year-over-year revenue increase in its first earnings report since a disruptive global outage. The division brought in $33bn, cruising past the $32.42bn estimate.
The outage, which took down critical systems for hours, seems to have been a mere blip on the radar for the cloud giant. CEO Andy Jassy noted the 20% growth was the fastest pace AWS has seen since 2022.
This cloud success was the main driver behind Amazon’s overall stellar quarter. The parent company reported $180.17bn in revenue and $1.95 EPS, both beating expectations and sending the stock up 9%.
The earnings call also served as a platform for Amazon to assert its AI ambitions. Executives mentioned the Rufus shopping assistant and the expansion of Zoox autonomous vehicle testing.
This growth story was paired with the announcement of 14,000 corporate job cuts. CEO Jassy claimed the layoffs were not about financials but about creating a more “malleable, startup-style” culture.