Amazon (AMZN +3.65%) is having a pretty good year. Shares are up 12% to date, as of writing. However, the company’s recent third-quarter update was somewhat mixed. The market did not appreciate Amazon’s massive spending and lower-than-expected fourth-quarter guidance, sending the stock down by as much as 7% post-earnings. Amazon has somewhat recovered since then, as Wall Street has had time to digest its earnings report.
And for investors focused on the long game, the company’s update was full of bullish signs. Let’s look deeper into it and pay particular attention to something Amazon’s CEO, Andy Jassy, said.
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Amazon’s cloud business continues to perform well
In the third quarter, Amazon posted net sales of $201.9 billion, up 12% year over year. The company’s cloud segment, Amazon Web Services (AWS), continues to grow much faster than the rest of the business. AWS’ third-quarter revenue was $46 billion, up 39.3% year over year. Amazon’s AWS sales…
