Amazon reports boost in quarterly profits, exceeds revenue estimates as it invests in AI

AP Technology Writer

LOS ANGELES (AP) — Amazon reported a boost in its quarterly profits Thursday and exceeded revenue estimates. The report sent the company’s stock up in after-hours trading. The Seattle-based tech giant posted a revenue of $158.9 billion — that’s higher than the $157.28 billion analysts had expected. Amazon said earned $15.3 billion in the third quarter, higher than the $12.21 billion industry analysts surveyed by FactSet had anticipated. Amazon earned $9.9 billion during the same period last year.