AWS Tops $45.98 Billion in Q3 Revenue, Targets 40%-Plus Growth Through 2028
Updated
Updated · CNBC · Oct 29
AWS Tops $45.98 Billion in Q3 Revenue, Targets 40%-Plus Growth Through 2028
3 articles · Updated · CNBC · Oct 29
Summary
$45.98 billion in third-quarter revenue put AWS 39% above a year earlier and ahead of the $45.29 billion analyst consensus, marking its fastest growth since late 2021.
$17.77 billion in operating income, up 55%, reflected surging demand for core compute, storage and AI workloads; AWS now contributes nearly 23% of Amazon's total revenue, a record.
Amazon tied that momentum to capacity expansion and product moves including more Nvidia GPUs, the DuckLabs acquisition, and new deals with Meta and OpenAI.
Andy Jassy said AWS could grow more than 40% in both 2027 and 2028 and reach $1 trillion in annual revenue within five to 10 years.
Competition is also intensifying: Microsoft disclosed Azure revenue in dollars for the first time, showing it at 72% of AWS's size, while Alphabet said Google Cloud revenue more than doubled.