In the Christmas quarter, the group was able to significantly increase sales and profits thanks to its trading business and the cloud division. Revenues grew by 14 percent year-on-year to $170 billion (154.4 billion euros). The bottom line is that profits jumped from around $300 million a year ago to $10.6 billion.
In the AWS cloud division, sales rose by 13 percent to $24.2 billion. This means that growth accelerated somewhat after being at twelve percent in the previous quarter. At the same time, AWS significantly increased its operating profit from $5.2 to around $7.2 billion. Jassy was convinced that applications with artificial intelligence alone will grow the cloud division’s business by tens of billions of dollars in the coming years.
Amazon is experimenting with AI helpers for shopping
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Amazon is trying out an assistant with artificial intelligence that should make shopping on the platform easier. Initially, some users in the USA can access the software called Rufus on a test basis. For example, you can ask the assistant for ideas for Valentine’s Day gifts or dinosaur toys for a five-year-old child, Amazon explained on Thursday.
Amazon is only at the beginning of the possibilities of the software and will, among other things, personalize it more, said CEO Andy Jassy. Amazon emphasizes that Rufus was trained with both a broad product catalog and customer reviews. Jassy was convinced that the assistant would change how Amazon customers discover products that interest them. In the USA, competitor Walmart is also experimenting with AI searches in its app.
Amazon shares were 7.11 percent higher at $170.60 in after-hours trading on the NASDAQ on Thursday.
Editors finanzen.net and dpa-AFX
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