Subj : AWS sees bumper quarter as AI push begins to pay off
To   : All
From : TechnologyDaily
Date : Fri Oct 27 2023 10:15:06

AWS sees bumper quarter as AI push begins to pay off

Date:
Fri, 27 Oct 2023 08:54:33 +0000

Description:
Although AWS didnt see as much growth as its competitors, operating expenses 
didnt grow too much either.

FULL STORY
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Its that time of the year again when companies across the world begin to 
announce their quarterly figures, and Amazons numbers dont disappoint - 
largely thanks to its Amazon Web Services (AWS) cloud division. 

Amazon confirmed that total net sales had climbed 11% year-over-year to 
$143.1 billion in the three months that led up to September 30, 2023, and 13% 
over the previous three months. 

AWS, which in Q3 2023 was worth $23.1 billion to the company, also saw a 
similar rise of 12% year-over-year. AWS revenue likely attributable to AI 

Speaking about the companys positive growth, Amazon CEO Andy Jassy noted: 
....our AWS growth continued to stabilize. Its operating income climbed to 
$7.0 billion, up from $5.4 billion during the same time last year. 

AWS attributes much of its success to a new strategic partnership with 
Anthropic, designed to advance generative AI, and a handful of new and 
renewed high-status customers, including BMW Group, UK bank NatWest, and 
international energy company Occidental. 

The company also launched the AWS Israel (Tel Aviv) Region and a new AWS 
Local Zone in Phoenix, Arizona, helping to support its growth and better 
serve customers. 

Another noteworthy statistic in Amazons report are the AWS operating 
expenses, which, despite huge investment in AI over the past year, hadnt 
grown excessively. Q3 2022 saw the company spend $16.1 billion, up from $15.1 
billion in Q3 2022, representing a 6.6% increase. 

Despite signs of growth, Amazons cloud company did not measure the same 
successes as Google Cloud (up 22%) and Microsoft Azure (up 29%), two major 
rivals that have also gone in big on AI. 

Amazon CFO Brian Olsavsky hinted to reporters on a call that this could be a 
result of a continued degree of economic uncertainty combined with a slowdown 
in the companys cost-cutting measures, which so far have led to more than 
27,000 redundancies across its entire portfolio. More from TechRadar Pro AWS 
results impress again to boost Amazon profits Check out our roundup of the 
best cloud hosting providers Want to move your data off-prem? Here are the 
best cloud storage and best cloud backup tools



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Link to news story:
https://www.techradar.com/pro/aws-sees-bumper-quarter-as-ai-push-begins-to-pay
-off


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