Intensity Therapeutics Publishes Promising Phase 1/2 Results for Novel Cancer Drug INT230-6
Amazon (AMZN) shares surged more than 9% in after-hours trading Thursday after the e-commerce and cloud giant reported third-quarter earnings that exceeded Wall Street expectations on both the top and bottom lines, driven by renewed momentum in its cloud business, Amazon Web Services (AWS).
The company posted earnings per share (EPS) of $1.95 on revenue of $180.2 billion, surpassing analyst estimates of $1.58 EPS and $177.8 billion in revenue. AWS revenue came in at $33.01 billion, also beating projections of $32.4 billion, underscoring a rebound in cloud demand and growing enterprise adoption of AI-driven services.
The strong quarter stands in contrast to mixed results from competitors. Earlier this week, Microsoft (MSFT) and Google (GOOG, GOOGL) both reported solid earnings but warned of higher AI-related spending ahead. Microsoft shares fell nearly 3% following its report, while Google’s gained 2.5%.
Despite Thursday’s rally, Amazon’s stock remains up just 2.4% year-to-date, lagging Microsoft’s 24% and Google’s 49% gains. Investors have expressed concern that AWS has not captured as large a share of the AI market as its rivals. While Microsoft benefits from its deep partnership with OpenAI and Google advances its Gemini AI platform, Amazon’s main AI exposure comes through its collaboration with Anthropic, the fast-growing AI startup it shares as a client with Google.
Still, Amazon recently announced that Anthropic will use 1 million custom Amazon chips to train and deploy its AI models—an important milestone for Amazon’s semiconductor and AI ambitions.
With accelerating AWS growth and new AI partnerships, Amazon’s latest results suggest the company is regaining its competitive edge in the fast-evolving cloud and artificial intelligence landscape.
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