Revenue at Amazon Web Services increases to $25bn as retail giant releases earnings report surpassing Wall Street expectations
Amazon sales surged once again in the first quarter of 2024, the company announced on Tuesday – the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence.
In a statement accompanying the report, the chief executive, Andy Jassy, said Amazon’s continuing focus on AI has “reaccelerat[ed]” the growth rate of Amazon Web Services (AWS), the company’s cloud computing sector. Revenue at AWS increased 17% year-over-year to $25bn.
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