MAAT INDEX

CLAIM #7214 · Amazon.com Inc (AMZN) · 2022Q3 earnings call · Oct 27, 2022 · due Dec 31, 2022

I would say that although we had a 28% growth rate for the quarter for AWS, the back end of the quarter, we were more in the mid-20% growth rate. So we've carried that forecast through to the fourth quarter.

Brian Olsavsky · CFO

CANNOT_DETERMINE
versus commitment · official band 5 percent
Committed
we were more in the mid-20% growth rate. So we've carried that forecast through to the fourth quarter
Reported
Net sales increased $21.4 billion in Q4, up 20% year-over-year

In context

s. Just like all companies, they want to lower their spend when they're faced with uncertainty in the market. I would say one that's real valuable points about cloud computing is that it's turning fixed cost into variable for many of our customers, and we help them save money either through alternative services or Graviton3 chips. There's many ways that we have to help them lower their spending and still get great cost performance ratios. So what we're really excited about the business, both in the long term and even in the short run, you noticed we've added $4.5 billion to the $16 billion base we had of revenue last Q3, so the business is growing in absolute dollars at a really good clip. We do see some of the consumers are cutting their budgets and trying to save money in the short run. I would say that although we had a 28% growth rate for the quarter for AWS, the back end of the quarter, we were more in the mid-20% growth rate. So we've carried that forecast through to the fourth quarter. We're not sure how it's going to play out, but that's generally our assumption. We're excited about the re:Invent conference that's coming up in late November. We expect to have over 40,000 people in Las Vegas and many more tuning in virtually. So continue to drive value for customers with new products, new services and, lately also, additional ways for them to manage their budgets and optimize in what is shaping up as a tough economy. Operator: Thank you. Our next question is from Doug Anmuth with JPMorgan. Please proceed with your question. Doug Anmuth: Great. Thanks for taking the question. Brian, free cash flow generation has always been Amazon's focus in the past, but that went negative last year and likely this year as well. Can you just talk about the path to restoring meaningful f

Verify independently

SEC filings for AMZN · Claim quote is verbatim from the 2022Q3 earnings call.