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Amazon's cloud unit records highest profit margin in at least a decade

Matt Garman, CEO of Amazon Web Services, speaks during The Wall Street Journal's Tech Live conference in Laguna Beach, California, on Oct. 21, 2024.Frederic J. Brown | AFP | Getty ImagesAmazon said revenue in its cloud unit increased 19% in the third quarter, just missing analyst estimates.Revenue at Amazon Web Services totaled $27.45 billion, according to a statement Thursday, while Wall Street was expecting $27.52 billion, based on StreetAccount estimates. Year-over-year growth has accelerated...

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