Amazon earnings: Stock falls as rare revenue miss offsets AWS beat

Category: Business

Amazon's AWS cloud-computing revenue grew 19%, marking the third consecutive quarter of acceleration, while advertising revenue increased by 20%. Despite a 5.8% drop in stock post-earnings, Amazon's net income rose to $13.49 billion. The company reported a significant increase in free cash flow and equity investments, particularly in Rivian.

Keywords: Amazon, AWS, Earnings Report

Source: MarketWatch

Update At: 8/2/2024

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