NEW YORK, Oct 27 ― Amazon.com yesterday said growth in its cloud business is stabilising as it signed new deals, but warned that consumers remained wary about spending going...
Zambry: Netanyahu can face trial for international crimes, but Malaysia can’t refer him since not party to Rome Statute
The company predicted a rise in revenue over the key holiday season that could still miss Wall Street expectations, as it reported strong third quarter results buoyed by a recent marketing blitz and faster delivery.Facing an array of challenges to its business, Amazon is trying to keep its mantle as the world's biggest cloud provider and online retailer.
Against this backdrop, the company forecast revenue in the range of US$160 billion and US$167 billion for the all-important holiday quarter ending December 31. Analysts polled by LSEG were expecting sales of US$166.62 billion, at the higher end of Amazon's guidance. Amazon's fortunes are often tied to those of its cloud-computing division. Long a major source of profit, Amazon Web Services saw growth slowdown in earlier quarters. Rival Microsoft, the second-largest cloud provider by revenue after Amazon, meanwhile beat Wall Street estimates this week as its customers geared up for AI upgrades.
CFO Olsavsky said the company in general saw strong demand in sales categories such as beauty and health, although discretionary spending was lower. Several initiatives helped Amazon navigate the terrain. The company has said a third-quarter shopping blitz known as Prime Day notched its biggest sales day ever, while a follow-up promotion period was its largest October holiday kickoff to date.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Judge will reconsider Donald Trump’s $10,000 gag order fine amid civil fraud trialNEW YORK, Oct 26 — A New York judge said today that he would reconsider fining Donald Trump US$10,000 (RM47,800) for violating a gag order barring the former US president from...
Read more »
Donald Trump fined US$10,000 for second gag order violationNEW YORK: Donald Trump was fined US$10,000 on Wednesday after the New York judge overseeing his civil fraud trial said the former US president for a s...
Read more »
Manoel hat-trick as Red Bulls seal playoff berthNEW YORK: Elias Manoel scored a hat-trick as the New York Red Bulls defeated Charlotte FC 5-2 to advance to the first round of Major League Soccer&039;s E...
Read more »
UN chief alleges international law violations in Gaza, Israel angryNEW YORK, Oct 25 — UN Secretary-General Antonio Guterres yesterday alleged violations of international law in Gaza and urged an immediate ceasefire as Israel pounds the...
Read more »
Oil prices settle up about 2% on worries about Middle EastNEW YORK: Oil prices rose about 2% on Wednesday (Oct 25), buoyed by worries about conflict in the Middle East, but gains were capped by higher US crud...
Read more »
UN chief rejects Israel accusations he justified Hamas attacksNEW YORK, Oct 25 — United Nations Secretary-General Antonio Guterres today rejected accusations by Israel that, in a statement to the Security Council, he had justified attacks...
Read more »