Technology
Amazon's AWS growth hits 39% but holiday guidance trails forecasts
Amazon reported third-quarter net sales of $201.9bn, up 12%, with AWS up 39.3% to $46.0bn - its fastest growth in nearly five years - and operating income of $28.1bn, a record 13.9% margin. Net income fell to $20.7bn against last year's Anthropic investment gain, advertising growth of 12% missed expectations, and trailing twelve-month free cash flow was an outflow of $42.4bn after $75.9bn of quarterly capital spending. Fourth-quarter sales guidance of $240-247bn bracketed consensus but sat below it at the midpoint.