In Other News · United States · Entertainment

Amazon CEO Says Prime Video Is Profitable and Generates ‘Tens of Billions of Dollars’ Annually; Content Spending Grew 7% in Q3 to $5.9 Billion

Source: Variety

Summary

Amazon’s stock price is down after the ecommerce giant missed Q3 earnings estimates and ad revenue growth slowed in the quarter — while investors are rattled by its continued massive investment in AI infrastructure, which put a crimp in free cash flow. But on the company’s earnings call, CEO Andy Jassy called out bright spots […]

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