AWS earnings Q4 2024

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AWS earnings Q4 2024

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Web Services (AWS) CEO Matt Garman delivers a keynote address during the AWS re:Invent conference in Las Vegas on Dec. 3, 2024.

Noah Berger | Getty Images Entertainment | Getty Images

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said Thursday that revenue growth from its cloud-computing business slowed slightly to just under 19% year over year in the fourth quarter, barely missing analysts’ estimates.

The company said in a statement that

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Web Services generated $28.79 billion in revenue. Analysts polled by StreetAccount had expected $28.84 billion. AWS growth in the third quarter was just above 19%.

AWS remains larger than any other cloud infrastructure provider, ahead of

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and

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. Its two closest peers also missed expectations on cloud revenue for the fourth quarter.

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now gets 15% of total revenue from AWS. The division remains a key provider of cash for the company, supplying just over half of its profit. AWS operating income totaled $10.63 billion, up 48% and above StreetAccount’s $10.45 billion consensus.

During the quarter, AWS’ leader, Matt Garman, told CNBC that Apple has used

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’s custom chips to run artificial intelligence models and experimented with next-generation

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AI training processors.

At its annual Reinvent conference in Las Vegas in December, AWS announced a “Buy with AWS” button that software companies can add to their websites for simpler purchasing.

WATCH: Watch CNBC’s full interview with AWS VP of Infrastructure Prasad Kalyanaraman

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#AWS #earnings

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