Amazon (AMZN) shared its Q3 2022 earnings report today, and it’s noted that the company’s AWS revenue grew a solid 27 percent from Q3 2021 to $20.5 billion “excluding changes in foreign exchange rates.” Additionally, operating income for AWS was $5.4 billion compared to $4.9 billion in Q3 2021.
The earnings report also notes plans to continue expanding AWS’s infrastructure footprint “to support customers” while announcing plans to launch the AWS Asia Pacific (Bangkok) Region in Thailand as well as opening the second Region in the Middle East.
Other key information included in Amazon’s report for Q3 2022 is the company’s total revenue sitting at $127.1 billion which narrowly beat EPS expectations of $126.42 billion. For EPS, Amazon put forward a diluted $0.28 per share compared to previous estimates around $0.19 to $0.22.
Despite AWS revenue growth and the company beating EPS expectations, Amazon (AMZN) stock nevertheless dropped 20 percent today amid lower Q4 2022 revenue guidance.
For more on Amazon’s Q3 2022 earnings, be sure to read through the full report. Also brush up on some of our previous coverage including Amazon (AMZN) Q3 2022 earnings results beating EPS expectations, and Amazon (AMZN) stock dropping 20 percent on lower Q4 2022 revenue guidance.