Amazon cloud business accelerates but shares drop on profit miss
Amazon shares fell more than seven percent in after-hours trading Thursday following a quarterly earnings report that missed analyst expectations on profit and total revenue but showed strong growth in the company's AWS cloud business.The miss came as investors were already rattled by Google's own lower-than-expected profits on a slowdown in advertising and big spending on AI. Shares in Google-parent Alphabet dropped more than 10 percent after market close on Wednesday and closed down more than
Amazon shares fell more than seven percent in after-hours trading Thursday following a quarterly earnings report that missed analyst expectations on profit and total revenue but showed strong growth in the company's AWS cloud business.The miss came as investors were already rattled by Google's own lower-than-expected profits on a slowdown in advertising and big spending on AI.
Shares in Google-parent Alphabet dropped more than 10 percent after market close on Wednesday and closed down more than
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