Amazon reported earnings of $1.89 per share, below the $1.96 expected by analysts polled by LSEG, and revenue of $201.94 billion versus a consensus estimate of $202.31 billion. Amazon Web Services generated revenue of $45.98 billion, while trailing 12-month free cash flow registered an outflow of $42.4 billion because of heavy investment in artificial intelligence. Shares fell nearly 7% in premarket trading. Despite the disappointing results, analysts remain bullish, arguing that Amazon’s strategy and AWS growth outlook offer upside ranging from 30% to 60%, depending on the firm.
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