Amazon: Capex Weighs on Profit Forecast

Here's our initial take on Amazon's (NASDAQ: AMZN) financial report.Investors had big expectations for Amazon, and in particular the company's AWS cloud unit, following strong results from Microsoft (NASDAQ: MSFT). Amazon revenue and earnings were up 13% and 33%, respectively, beating expectations, and AWS sales grew by 17% to $30.9 billion.Amazon's release boasted about its largest Prime Day to date and new partnerships including a Nike (NYSE: NKE) storefront. But the focus was clearly on AI. CEO Andy Jassy in a statement said that "our conviction that AI will change every customer experience is starting to play out," noting the company's moves not just at AWS but across Alexa, robotics, and other areas.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool