Amazon forecast profit and revenue in the current quarter that exceeded analysts’ estimates, on optimism for a strong holiday shopping season.
Operating income will be $16 billion to $20 billion in the period ending in December, the company said on Thursday in a statement.
Analysts, on average, projected $17.5 billion, according to data compiled by Bloomberg. Fourth-quarter sales will be as much as $188.5 billion, compared with an average estimate of $186.4 billion.
“As we get into the holiday season, we’re excited about what we have in store for customers,” chief executive Andy Jassy said in the statement.
The cloud business, which suffered record low sales growth last year, continued to regain momentum during the third quarter. Amazon Web Services revenue jumped 19 per cent to $27.5 billion, in line with estimates.
Operating income generated by the unit was $10.4 billion, exceeding analysts’ average projection of $9.12 billion.
Mr Jassy is betting heavily on the boom in generative artificial intelligence, which can create text, video and images based on simple user prompts.
Having spent the past couple of years wooing Wall Street by cutting costs and streamlining Amazon’s logistics operation, he is now pouring money into new data centre construction to support the AI boom, even as some investors worry the payoff may take years to materialise.
Amazon shares rose about 4 per cent in extended trading after closing at $186.19 in New York. The stock had increased 23 per cent this year through the close.
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Most wanted allegations
- Benjamin Macann, 32: involvement in cocaine smuggling gang.
- Jack Mayle, 30: sold drugs from a phone line called the Flavour Quest.
- Callum Halpin, 27: over the 2018 murder of a rival drug dealer.
- Asim Naveed, 29: accused of being the leader of a gang that imported cocaine.
- Calvin Parris, 32: accused of buying cocaine from Naveed and selling it on.
- John James Jones, 31: allegedly stabbed two people causing serious injuries.
- Callum Michael Allan, 23: alleged drug dealing and assaulting an emergency worker.
- Dean Garforth, 29: part of a crime gang that sold drugs and guns.
- Joshua Dillon Hendry, 30: accused of trafficking heroin and crack cocain.
- Mark Francis Roberts, 28: grievous bodily harm after a bungled attempt to steal a £60,000 watch.
- James ‘Jamie’ Stevenson, 56: for arson and over the seizure of a tonne of cocaine.
- Nana Oppong, 41: shot a man eight times in a suspected gangland reprisal attack.
If you go
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
The specs
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Results
Stage three:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-43
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Tom Dumoulin (NED) Jumbo-Visma, at 14s
4. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
5. Joao Almeida (POR) UAE-Team Emirates, at 22s
6. Mikkel Bjerg (DEN) UAE-Team Emirates, at 24s
General Classification:
1. Stefan Bissegger (SUI) EF Education-EasyPost, in 9-13-02
2. Filippo Ganna (ITA) Ineos Grenadiers, at 7s
3. Jasper Philipsen (BEL) Alpecin Fenix, at 12s
4. Tom Dumoulin (NED) Jumbo-Visma, at 14s
5. Tadej Pogacar (SLO) UAE-Team Emirates, at 18s
6. Joao Almeida (POR) UAE-Team Emirates, at 22s
COMPANY%20PROFILE
Company%20Profile
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
A%20MAN%20FROM%20MOTIHARI
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
Race card
5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m
6.05pm: Handicap (TB) Dh87,500 (T) 1,400m
6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m
7.15pm: Handicap (TB) Dh105,000 (T) 1,200m
7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m
8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m
9pm: Handicap (TB) Dh105,000 (T) 2,410m
9.35pm: Handicap (TB) Dh92,500 (T) 2,000m
Specs
Engine: 3.0L twin-turbo V6
Gearbox: 10-speed automatic
Power: 405hp at 5,500rpm
Torque: 562Nm at 3,000rpm
Fuel economy, combined: 11.2L/100km
Price: From Dh292,845 (Reserve); from Dh320,145 (Presidential)
On sale: Now