October 31, 2022
Amazon Web Services said it is working to reduce overall cloud bills and pursue Cloud strategies that allow for such short-term fluctuations in usage and costs.
The company is committed to budgetary control and proactive cost optimization through better workload management, the transition to more cost-effective products with different performance profiles and the implementation of AWS’ Graviton chips, which offer a higher cost-performance ratio.
Amazon’s third-quarter profit was $2.87 billion, or $0.28 per share, a year-over-year decline but higher than Wall Street’s expectations, compared with $3.16 billion, or $0.31 per share, in the third quarter of last year.
Third quarter earnings look at a glance as follows: Earnings (Q3): $2.87 billion compared to $3.16 billion last year. -EPS (Q3): $0.28 compared to $0.31 last year. -Analyst forecast: $0.21 -Revenue (Q3): $127.10 billion compared to $110.81 billion last year.
While the company’s third-quarter operating profit fell to $2.5 billion from $4.9 billion in the third quarter of 2021, its cloud segment performed better, but not as well as expected. AWS revenue rose 28% year-on-year, while operating income rose 10% to $5.4 billion from $4.9 billion a year earlier.
Despite the fact that there seems to be optimism that consumer spending and money are flowing despite economic concerns, the bad news is that, faced with decades of high inflation, consumers are spending not on e-commerce, but on concerts or food and gas bills.
The sources for this piece include an article in CIODive.
