Amazon Q3 Sales Up 13%; 14,000 Job Cuts

Amazon topped Q3 expectations with revenue up about 13% to roughly $180.2 billion and GAAP EPS of $1.95, sending shares up about 10–13% in after-hours trading. Net income was about $21.1 billion and operating income roughly $17.4 billion after a $2.5 billion FTC settlement and an estimated $1.8 billion in severance charges, with some investment gains (including from Anthropic) supporting results. Amazon Web Services re‑accelerated to roughly 20% growth (about $33 billion), driven in part by AI demand and marking its fastest pace since 2022, though the quarter followed a major AWS outage that heightened scrutiny of cloud reliability. Management announced roughly 14,000 corporate job cuts as it reallocates resources toward AI and faster decision‑making, and issued a cautious fiscal‑fourth‑quarter sales outlook, projecting next‑quarter revenue near $209.5 billion amid economic uncertainty and tariffs.