Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos' AWS 12-Month Revenue Is Higher Than 466 S&P 500 Companies: 'Wow'
Portfolio Pulse from Rounak Jain
Tesla CEO Elon Musk expressed astonishment at Amazon Web Services' (AWS) revenue growth, highlighting that its trailing 12-month revenue of $94.4 billion exceeds that of 466 S&P 500 companies. Amazon CEO Andy Jassy announced AWS has surpassed a $100 billion revenue run rate in Q1 2024, with AWS revenue increasing 17% year-on-year to $25 billion. Amazon's shares rose 2% in premarket trading following the announcement.
May 01, 2024 | 9:02 am
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Amazon's AWS revenue growth impresses, with a $100 billion revenue run rate announced for Q1 2024, leading to a 2% increase in Amazon's shares in premarket trading.
The significant revenue growth of AWS, a core business of Amazon, and the surpassing of a $100 billion revenue run rate are key drivers of investor optimism. This news directly impacts Amazon's stock price, as evidenced by the 2% premarket increase, reflecting positive investor sentiment towards Amazon's financial health and growth prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100