Entertainment · 3 views
Amazon CEO Says Prime Video Is Profitable and Generates ‘Tens of Billions of Dollars’ Annually; Content Spending Grew 7% in Q3 to $5.9 Billion
Prime Video is a 'significant business with a revenue run rate in the tens of billions of dollars, now profitable in its own right,' per Amazon CEO Andy Jassy.
Summary
Amazon’s stock price is down after the ecommerce giant missed Q3 earnings estimates and ad revenue growth slowed in the quarter — while investors are rattled by its continued massive investment in AI infrastructure, which put a crimp in free cash flow.
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