Worries sparked by lackluster results from data center tech vendors appear unfounded, as their biggest customers, the hyperscalers, report a good quarter.
Advertising was a key money maker as Bezos pushes beyond low-margin goods sales into more profitable categories like cloud computing and ads.
Its cloud revenue grew 76 percent, which wasn't the blowout it's delivered in past quarters. CFO Amy Hood said the company isn't seeing signals that demand for internet services is slowing and along with it data center expansion.
Report on fourth-quarter results relieves concerns that the chipmaker would fare worse than its rivals' disappointing results.
Nvidia’s lowered forecast dashed recent optimism that the weakness in chipmakers, which have struggled with weak demand and high inventories, may be close to an end.
The lucrative cloud data center surge slowed in the fourth quarter, raising concern that those large customers are becoming more cautious.
Consulting business flips from declines to growth, while growth in cloud services slows, and cloud systems declines. Cognitive solutions sales flat.
CFOs may cut spending as they prepare for a possible recession, but a reduction in companies' cloud usage is unlikely.
