Amazon's cloud arm grows 39 per cent, but AI spending outruns its cash

AWS revenue, third quarter

39 % from a year earlier

Amazon Web Services revenue rose 39 per cent from a year earlier in the third quarter, its sixth straight quarter of faster growth.

Amazon spent US$77.3 billion on equipment in the quarter and still expects about US$220 billion in capital spending this year, with meaningfully more in 2027.

Cash flow, past twelve months

-42.4 US$ billion

Over twelve months, Amazon's cash flow was negative US$42.4 billion and its long-term debt reached US$173.1 billion. Shares fell 5 to 6 per cent in after-hours trading.

There has never been a business with a trillion dollars of annual revenue.

— Andy Jassy, Amazon CEO