Amazon’s stock drops as cloud revenue comes up short and it doubles AI spending
AWS has not been able to match the growth of Amazon’s competitors, with Microsoft Corp.’s Azure and Alphabet Inc.’s Google Cloud seeing cloud-related revenue rise by 31% and 30%, respectively. Even so, AWS remains much bigger than any other cloud infrastructure provider, and it’s notable that those peers also missed expectations this week.
Amazon shares drop as cloud growth, sales forecast lag
Amazon.com investors drove shares down sharply on Thursday (Feb 6) due to weakness in the retailer's cloud computing unit and lower-than-expected forecasts for first-quarter revenue and profit. Amazon's shares fell as much as 5 per cent in extended trade after the fourth-quarter earnings report,
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