Amazon Results News Today

Capital spending under CEO Andy Jassy will go up “meaningfully,” but record operating margins driven by retail, cloud and advertising will ease the pain.

These three tech companies are part of the so-called

Amazons plan to acquire iRobot for $1.4 billion has been halted by European regulators, despite the companys strong fourth-quarter sales and revenue growth from generative AI features in its cloud and ecommerce businesses. AWS CEO Andy Jassy highlighted the incorporation of generative AI into many of its services, with the expectation that it will drive tens of billions of dollars of revenue in the coming years.

Ride-hailing platform Rapido, known for venturing into this space with bike taxis, is now testing cabs on its platform. This and more in todays ETtech Top 5.

Investors want to know how Amazon Web Services (AWS), the companys cloud provider, stands up against Microsoft and Googles, which both on Tuesday reported slowed growth in their cloud businesses.

The Seattle-based company said it pulled in $127.4 billion in revenue for the January-March quarter, a 9 per cent growth compared to the $116.4 billion it reported during the same period last year.

The company has announced two rounds of layoffs, cancelled products, and nixed physical store expansions, according to CNN Business.

Amazon expects a jump in its third-quarter revenue as the company on Thursday said that the retailer collects bigger fees from Prime loyalty subscriptions and consumer demand remands higher in spite increasing inflation.

After a long-running surge in sales during the COVID-19 pandemic, Amazon is facing a litany of challenges.