{"id":5720,"date":"2023-10-26T21:05:27","date_gmt":"2023-10-26T21:05:27","guid":{"rendered":"https:\/\/infundpros.com\/business\/amazon-reports-robust-sales-while-cloud-growth-remains-steady\/"},"modified":"2023-10-26T21:05:27","modified_gmt":"2023-10-26T21:05:27","slug":"amazon-reports-robust-sales-while-cloud-growth-remains-steady","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=5720","title":{"rendered":"Amazon reports robust sales while cloud growth remains steady"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=a7de8729-2c0d-4b05-8cbf-b2bf2e731502\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Cost-cutting and a growing advertising business contributed to strong quarterly sales and earnings at ecommerce group Amazon, as it reiterated that growth in its core cloud computing arm was stabilising.\u00a0<\/p>\n<p>Overall sales rose 13 per cent year-on-year in the third quarter to $143.1bn, while pre-tax earnings jumped more than 300 per cent to $11.2bn, compared with forecasts for $7.68bn, according to S&amp;P Capital IQ.\u00a0<\/p>\n<p>Sales at Amazon\u2019s cloud computing business, an important driver of its profits, rose 12 per cent to $23.1bn, in line with expectations and at the same rate as during the second quarter. Margins in the unit increased 4 percentage points to 30.3 per cent.<\/p>\n<p>Investors have been nervously watching Amazon\u2019s cloud sales growth. It said in August that the division had stabilised following a sharp slowdown earlier in the year.<\/p>\n<p>\u201cWe had a strong third quarter as our cost to serve and speed of delivery in our stores business took another step forward, our [cloud] growth continued to stabilise, our advertising revenue grew robustly, and overall operating income and free cash flow rose significantly,\u201d said Amazon chief executive Andy Jassy.<\/p>\n<p>The shares were up 0.6 per cent in after-hours trading in New York.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/a7de8729-2c0d-4b05-8cbf-b2bf2e731502\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Cost-cutting and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-5720","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon reports robust sales while cloud growth remains steady | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Cost-cutting and a growing\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=5720\" \/>\n<meta property=\"og:locale\" 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