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Zoom revenue spikes to $328M in Q1; CEO thanks Amazon Web Services for help meeting demand

GeekWire

Zoom blew past expectations for its first quarter earnings as the video conferencing company added millions of new users amid the global pandemic. Shares have surged more than 200% since the pandemic began as more people rely on the company’s software to work and socialize due to shelter-in-place orders. (Zoom Image).

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Amazon’s online store sales dip below 40% of net sales for first time, and other earnings notes

GeekWire

The chart below is what Amazon’s net sales look like in raw numbers over the past several years, broken down into the major business segments reported by the Seattle-based company. Here are the same results, expressed as a percentage of net sales. Here’s how the company defines each segment in its 10Q filing.

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Amazon’s cloud business and AI initiatives in the spotlight in advance of earnings report

GeekWire

Amazon’s cloud revenue growth rate and its artificial intelligence initiatives will be closely scrutinized when the company reports second-quarter earnings Thursday afternoon, Aug. Wall Street analysts expect the company to report net sales (revenue) of $131.5 from a year ago, as reported by Yahoo Finance.

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Amazon’s potential investment in Rackspace would link longtime players in the cloud

GeekWire

Shares of Rackspace climbed as much as 19% at one point this morning amid reports that Amazon is in talks for a potential investment in the cloud infrastructure and services company. Based in San Antonio, Texas, Rackspace reported revenue of $2.4 billion and a net loss of $102.3 million in 2019.

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Amazon Prime Day, AWS and jobs in the spotlight for Andy Jassy’s first earnings report as CEO

GeekWire

Amazon’s earnings report Thursday will be its first with CEO Andy Jassy at the helm. While the company typically doesn’t disclose detailed Prime Day financial results, its overall numbers will provide new clues about how things went. Even at a lower percentage growth, this division is a financial powerhouse for the company.

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Capital spending soars in the cloud as Microsoft, Google, and others bet big on AI demand

GeekWire

were the first to be powered by the company’s Azure Cobalt 100 CPU, as part of a broader cloud infrastructure buildout. Google parent Alphabet reported capital expenditures of $12 billion, up 90%, “driven overwhelmingly by investment in our technical infrastructure,” CFO Ruth Porat told analysts. What about Amazon?

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Amazon’s total Washington state employment declines for the first time, new numbers show

GeekWire

(GeekWire Photo / Todd Bishop) Amazon’s employment in Washington state, including warehouse and corporate workers, fell by 3,000 people to 87,000 employees between early 2023 and early 2024 — its first recorded year-over-year employment decline in the state since the company was founded nearly 30 years ago in Jeff Bezos’ Bellevue garage.

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