Amazon AWS Posts Strong Cloud Revenue Growth Amid Mixed Financial Results
Amazon reported a 39 percent revenue growth for its cloud division, Amazon AWS, alongside new deals with Meta and OpenAI. However, the company missed other financial expectations and posted a negative free cash flow of $2.4 billion.
Amazon's cloud division, AWS, achieved a 39 percent revenue growth during the quarter, helping overall revenue to exceed consensus expectations. The cloud segment successfully secured major agreements with Meta and OpenAI during this period, driving the acceleration as cloud rivals also grew.
Despite the strong performance in the cloud sector, Amazon reported that it otherwise missed expectations in its latest financial report. The most notable setback highlighted in the report was a negative free cash flow amounting to $2.4 billion for the quarter.
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