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Amazon News
Guardian
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Amazon beats Wall Street expectations with strong cloud business growth
- Amazon beats Wall Street expectations with strong cloud business growth.
- The company reported revenue of $158.9bn, surpassing analyst expectations.
- Amazon's cloud computing business showed a 19% increase in revenue, signaling faster growth compared to last year.
- Investors are also watching Amazon's traditional online retail business and its efforts to diversify its portfolio.
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Insider
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Image Credit: Insider
Stock market today: Microsoft, Meta drag tech stocks lower on concerns over AI spending
- Stocks tumbled sharply on Thursday, dragged down by tech. Microsoft and Meta stock dropped on renewed concerns over AI spending.
- The tech sell-off was sparked by the latest earnings from mega-cap firms that mostly exceeded estimates but disappointed investors in other areas and exacerbated concerns about heavy investment in artificial intelligence.
- The S&P 500 dropped almost 2% while the Dow Jones Industrial Average lost more than 370 points.
- Microsoft expects a slowdown in revenue due to investment in cloud computing for AI demand, while Meta plans to increase capital expenditures for AI. Jobless claims fell more than expected, and the Fed's preferred inflation gauge edged closer to 2%.
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Geek Wire
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Amazon stock jumps 6%; Q3 revenue up 11% to $158.9B; profits hit $15.3B; AWS sales up 19%
- Amazon reported Q3 revenue of $158.9 billion, up 11% YoY, and profits of $15.3 billion.
- Amazon Web Services (AWS) sales were up 19%, generating $27.4 billion in revenue and $10.4 billion in operating income.
- The company's ad business revenue grew by 19% to $14.3 billion, and revenue from third-party seller services increased by 10% to $37.8 billion.
- Amazon's Q4 sales are forecasted to be between $181.5 billion and $188.5 billion, with operating income ranging from $16 billion to $20 billion.
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Medium
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Image Credit: Medium
✨ Discover the Best Meesho Deals: Shop Trendy Products at Unbelievable Prices! ✨
- Update your wardrobe with trendy fashion & apparel, home essentials, and beauty & wellness products at pocket-friendly prices.
- Meesho offers amazing discounts, daily updates on flash sales, and exclusive offers for channel members, ensuring you get the lowest price available.
- Hot categories include women's fashion, jewelry & accessories, home decor, and beauty & skincare, all offered at low prices.
- Join Meesho's Telegram channel for more savings and instant updates on low-price products.
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Massivelyop
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Throne and Liberty launches Phantom Tracker’s Star season and battlepass as it fights RMT
- Throne and Liberty releases 1.5.0 update with new battle pass for Phantom Tracker’s Star season.
- The update includes bug fixes, balance tweaks, and improved features.
- Amazon cracks down on real-money trading (RMT) and warns of consequences for engaging in such activities.
- Throne and Liberty retains a significant player base with over 131K players active during the Halloween period.
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Arstechnica
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Image Credit: Arstechnica
Over 500 Amazon workers decry “non-data-driven” logic for 5-day RTO policy
- Over 500 Amazon workers are protesting the company's upcoming return-to-office policy.
- The policy will require employees to work in offices five days per week, eliminating remote work options.
- Workers are outraged and have signed a letter to express their dissatisfaction with the non-data-driven decision.
- They claim that the CEO's statements about employee support for the policy do not align with their experiences.
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Massivelyop
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New World Aeternum says multiplayer PvE and PvP let you ‘continue your solo experience alone in a crowd’
- New World's senior producer Katy Kaszynski claims that PvP content and multiplayer dungeons are part of the solo experience.
- The game provides an easy queuing system for players who want to dabble in group content.
- However, multiplayer PvP and PvE dungeons are not solo content and playing them solo can lead to disappointment.
- The game has seen a significant increase in concurrent players on Steam, with 46K players over the weekend.
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Insider
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Image Credit: Insider
Amazon earnings live updates: Wall Street watching for margins, signs of consumer health
- Amazon will release its third-quarter earnings after the closing bell on Thursday.
- Investors will be focused on the company's cloud platform and advertising strength, as well as concerns about slowing retail margins and rising investments.
- Amazon's stock has outperformed the S&P 500 with a 27% gain year-to-date.
- The consensus estimate for Amazon's third-quarter net sales is $157.29 billion.
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Insider
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Stock market today: Indexes drop as tech shares slide before Apple, Amazon earnings
- Indexes fell for a second day as tech earnings show mixed results.
- Meta and Microsoft slid after earnings beats, Amazon and Apple set to report.
- PCE inflation drops to 2.1%, jobless claims fall more than expected.
- US indexes slide, investors await earnings from Apple and Amazon.
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TechBullion
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Image Credit: TechBullion
How Chicago’s Tech Boom is Changing the City
- Chicago's tech boom has brought significant growth to the city's tech industry, creating job opportunities in fields like software development and cybersecurity.
- The collaboration between tech companies and local universities is ensuring a skilled workforce for the industry.
- Real estate growth and rising housing prices in tech-centric neighborhoods pose challenges for affordable housing.
- Chicago is investing in updating its transportation system to accommodate the growing population and improve connectivity.
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Mensjournal
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Amazon Is Selling DeWalt's $84 Flashlight for Only $32, and Shoppers Say It's a 'Perfect Addition' to Any Tool Kit
- DeWalt's 20V Max LED Flashlight is on sale for $32 on Amazon, 62% off its regular price of $84.
- The flashlight has received over 15,000 five-star ratings and is considered a perfect addition to any tool kit.
- It produces up to 110 lumens of light with 11 to 25 hours of total run time.
- The flashlight features a 120-degree adjustable head, ergonomic grip, and integral hook for easy use.
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Medium
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228
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Beats Studio Pro x Kim Kardashian Review: Bluetooth Noise Cancelling Headphones with 40-Hour…
- The Beats Studio Pro is a popular choice for music lovers and casual listeners.
- Features of the Beats Studio Pro include stylish design, comfortable fit, and powerful sound quality.
- Active Noise Cancelling technology blocks out background noise for an immersive listening experience.
- The headphones offer up to 24 hours of battery life and fast charging capabilities.
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13 Likes
Silicon
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Image Credit: Silicon
Russia Carrying Out Targeted Attacks In UK, Microsoft Warns
- Microsoft and Amazon Web Services (AWS) have warned of targeted attacks by a Russian-backed group impersonating staff of the two companies.
- The group, tracked by Microsoft as Midnight Blizzard and by AWS as APT29, is known for carrying out hacks on organisations and individuals to gather intelligence on behalf of Russia’s Foreign Intelligence Service (SVR).
- The group has been sending out “highly targeted spear-phishing emails” to individuals in government, academia, defence, non-governmental organisations, and other sectors since 22 October, Microsoft said in an advisory.
- The emails appear to be sent from addresses gathered during previous compromises in order to appear more authentic, Microsoft said.
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Geek Wire
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Amazon earnings preview: Analysts watching AWS growth, retail margins, Project Kuiper
- Analysts will be closely watching the revenue growth of Amazon's cloud computing unit, AWS, and the margins in its retail segment when the company reports its third quarter earnings.
- Wall Street expects $157.3 billion in revenue and earnings per share of $1.14, with investors particularly interested in the impact of AI adoption on cloud computing giants.
- Amazon is expected to see a 20% year-over-year revenue growth for AWS, driven by improvements in non-AI and AI workloads, a broad customer base, and ongoing chip innovation.
- Analysts also anticipate merchandise margin pressure due to Amazon's focus on lower-priced, lower-margin essentials and expect revenue from Project Kuiper, the satellite internet business, to offset costs in the future.
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Insider
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Image Credit: Insider
Amazon employees speak out about Jeff Bezos's WaPo decision, with some supporting his call, leaked messages show
- In leaked messages, Amazon employees are divided, with some supporting Jeff Bezos's decision to stop presidential endorsements by the Washington Post and others questioning his motives and timing.
- Some staff supported Bezos's controversial call, stating that it was the type of leadership transparency that Amazon has been missing since Bezos's departure in 2021.
- Bezos's decision sparked a backlash that lost the WaPo more than 250,000 subscriptions. And, now the Post situation has become a hot-button issue among some employees inside Amazon.
- One worker wrote that Bezos should have more right-leaning editorials to reduce the perception of bias.
- Bezos's opinion piece against presidential endorsements was not well-received by some employees, who thought it was "suspicious and worrisome" and an inflection point for a new policy.
- Some Amazon employees suggested alternative solutions for Bezos, such as writing two opposing opinion pieces and letting readers decide which candidate to endorse.
- Several Amazon employees criticized the change, while others agreed it could "boost credibility" of news organizations.
- Some Amazon staffers said that Washington Post readers were only willing to accept news articles that conform to their political views, preventing them from seeing a wider world.
- Some employees had a snarkier view, pointing out that Blue Origin's CEO met with Trump on the same day as WaPo's decision.
- Bezos's decision also received criticism from those employees who thought his remarks were personal opinions and not in line with the principles of great responsibility that the company is supposed to follow.
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