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Amazon profit soars 55% in Q3 driven by cloud growth

  • Amazon reported a 55.2% increase in profit for Q3 driven by robust growth in its cloud computing business.
  • Amazon Web Services (AWS) had an operating income of $10.4 billion in Q3, contributing significantly to the company's bottom line.
  • AWS now stands at a $110 billion annualized run rate and has experienced significant growth in the last four quarters.
  • Amazon's net sales rose 11% YoY to $158.9 billion, with AWS segment sales increasing 19% YoY to $27.5 billion.

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