Amazon reported third-quarter revenue of $201.9 billion, slightly below expectations, while net profit of $20.7 billion fell from the same period a year earlier. Amazon Web Services saw sales rise 39.3% to $45.98 billion, exceeding Wall Street targets. Investors are concerned about massive spending on AI data centers, which pushed free cash flow from positive $14.8 billion to negative $42.4 billion, and about disappointing advertising growth. Amazon expects capital expenditures of approximately $220 billion in 2026, and its shares fell 5% in after-hours trading.
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