Amazon beats estimates; AI boosts cloud growth, revenue forecast lags

Amazon.com reported quarterly results above Wall Street’s expectations on Tuesday, as interest in artificial intelligence helped drive cloud-computing growth.

CEO Andy Jassy told analysts that for Amazon “there is a big opportunity in front of us” in servicing AI customers.

Shares of the Seattle-based e-commerce and tech company climbed less than 2 per cent in extended trade after its current-quarter revenue forecast came in below expectations. The stock closed down 3.3 per cent in the regular session.