Amazon Beats Earnings Expectations and Highlights AI Chip Backlog
Amazon (AMZN) closed slightly higher after reporting earnings that exceeded expectations and highlighting a large backlog for its custom AI chips. The company reported earnings of $2.78 per share for the March-ended quarter, a 74% increase year-over-year, supported by pre-tax gains from its investment in Anthropic.
Tickers: $AMZN
Topics: AI Chips Anthropic Investment Earnings Revenue