Amazon Stock Jumps After Earnings Report Record $15.3 Billion Profit - The New York Times

Amazon has been making its fulfillment and delivery network faster and more efficient, driving down its costs to fulfill orders. Credit... Stacy Kranitz for The New York Times Supported by By Karen Weise Karen Weise has covered Amazon since 2018. Amazon reported record profits on Thursday, as cloud computing sales picked up steam and its retail business showed resilience. Sales from July through September hit $158.9 billion, up 11 percent from the same period a year earlier. Profit rose 55 percent, to $15.3 billion. The results surpassed Wall Street’s expectations. Amazon’s cloud computing business is continuing to gain steam, driven partly by its artificial intelligence offerings. Amazon Web Services sales grew 19 percent, to $27.5 billion. It accounted for 60 percent of the company’s operating profit. Profit in the e-commerce giant’s core retail business has faced pressure as consumers shift their spending to lower-cost products and everyday consumable items, like shampoo or dog food

Amazon has been making its fulfillment and delivery network faster and more efficient, driving down its costs to fulfill orders. Credit... Stacy Kranitz for The New York Times Supported by By Karen Weise Karen Weise has covered Amazon since 2018. Amazon reported record profits on Thursday, as cloud computing sales picked up steam and its retail business showed resilience. Sales from July through September hit $158.9 billion, up 11 percent from the same period a year earlier. Profit rose 55 percent, to $15.3 billion. The results surpassed Wall Street’s expectations. Amazon’s cloud computing bus