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What will be the revenue contribution from generative AI to AWS in Q2 2024?
5
Resolution / Starting Odds
Less than $1 billion • 25%
$1 billion to $2 billion • 25%
$2 billion to $3 billion • 25%
More than $3 billion • 25%
Amazon's Q2 2024 earnings report
Story
Amazon Q1 Net Income Triples to $10.4B, AWS Hits $100B Run Rate
May 1, 2024, 01:05 AM
Amazon reported a significant increase in its first-quarter earnings, driven by strong performance in its cloud-computing unit, AWS, and gains in advertising, including Prime Video ad dollars. The company's net income tripled to $10.4 billion, with total sales up 12.5% to $143.3 billion compared to the same period last year. AWS achieved a milestone by reaching a $100 billion annual revenue run rate, growing 17% year-over-year, and reported the highest margin since at least 2014 at nearly 38%. The growth in AWS was attributed to increased demand for cloud services and significant investments in artificial intelligence, which also reached a multi-billion dollar run rate. Generative AI revenues contributed to AWS cloud-revenue growth. Amazon's capital expenditures were substantial, totaling $14 billion in the quarter, primarily to support AWS infrastructure and generative AI efforts.
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Less than 10% • 25%
10% to 20% • 25%
20% to 30% • 25%
More than 30% • 25%
$144 billion - $146 billion • 25%
$146 billion - $148 billion • 25%
$148 billion - $149 billion • 25%
More than $149 billion • 25%
Less than $1 billion • 25%
$1-2 billion • 25%
$2-3 billion • 25%
More than $3 billion • 25%
Significant increase • 25%
Moderate increase • 25%
No significant change • 25%
Decrease • 25%
AWS • 33%
Advertising • 33%
AI Initiatives • 34%
