Amazon recently reported Q3 revenue of $143.1 billion, a 13% increase, surpassing analysts' estimated $141.6 billion. Operating income rose significantly, from $2.5 billion a year ago to $11.2 billion. The success can be attributed to the 7% increase in the company's central online store sales, a 26% jump in advertising sales, and considerable cost cuts. Amazon Web Services also reported a higher operating margin than previous quarters despite slightly lower-than-expected total sales.
Amazon Web Services (AWS) has reported a 12% year-on-year revenue growth in Q3, falling short of analysts' expectations. Despite this, the division generated $6.98bn in operating income, a 29% increase and significantly more than the forecasted $5.63bn. With a margin growth to 30.3%, AWS surpassed operating income generated by Amazon's entire business. Now venturing into AI, AWS has started selling Bedrock service and is set to invest $4bn in AI startup Anthropic.
Intel Corporation surpassed Q3 2023 profit and sales forecasts, driving a surge in its stock price. Its revenue fell 8% YoY to $14.2 billion, outperforming the $13.53 billion expected by analysts. Active divisions included Intel's CCG, generating $7.9 billion, DCAI with $3.8 billion, and NEX, Mobileye and IFS contributing $1.5 billion, $530 million, and $311 million respectively. The company anticipates Q4 revenues of $14.6 billion to $15.6 billion, with a gross margin of about 46.5% and EPS of $0.44.