Amazon Revenues Up 13 Percent to $180 Billion

Amazon reported that it earned a net income of $21.2 billion on revenues of $180 billion in the quarter ending September 30. Those figures represent gains of 38 percent and 13 percent, year-over-year (YOY), and Amazon handily beat expectations.

“We continue to see strong momentum and growth across Amazon as AI drives meaningful improvements in every corner of our business,” Amazon president and CEO Andy Jassy said. “AWS is growing at a pace we haven’t seen since 2022, re-accelerating to 20.2 percent YOY. We continue to see strong demand in AI and core infrastructure, and we’ve been focused on accelerating capacity, adding more than 3.8 gigawatts in the past 12 months.”

Amazon’s AWS business generated $30 billion in revenues, up over 20 percent YOY. The firm signed new AWS agreements with Delta Air Lines, Volkswagen Group, Fox Corporation, ServiceNow, Qantas Airways Limited, U.S. General Services Administration, SAP, Lululemon Athletica, Live Nation, AXA, BT Group, Vonage, Upstage, Arm, Fundamental, Periodic Labs, Cursor, Perplexity, and Lila Sciences in the quarter.

Amazon also reported that it added 3.8 gigawatts of power capacity in the past 12 months—”more than any other cloud provider”—enroute to spending over $34 billion on capital expenditures tied to AI datacenter buildouts, nearly identical to the sum Microsoft spent. Amazon previously said that its AI spending would exceed $130 billion this year.