Andy Jassy, CEO of Amazon, speaks during an unveiling event in New York on Feb. 26, 2025.
Michael Nagle | Bloomberg | Getty Images
Amazon is slated to post results for the third quarter after the closing bell Thursday.
Here’s what analysts polled by LSEG are looking for:
Earnings per share: $1.57
Revenue: $177.8 billion
Wall Street is also looking at other key revenue numbers:
Amazon Web Services: $32.42 billion expected
Advertising: $17.34 billion expected
AWS growth will be a major focus for investors once again, as the company faces intensifying pressure from cloud competitors Google and Microsoft, which also reported quarterly results this week.
Revenue at AWS is projected to expand 18.1% year over year, which is about the same growth rate as the second quarter. Google’s cloud revenue accelerated 34% during the third quarter, while Microsoft Azure recorded growth of 40%.
AWS stumbled last week during an extended outage that lasted more than 15 hours, taking down numerous websites as a result. Microsoft experienced outages in its Azure cloud and 365 services on Wednesday, hours before its scheduled earnings release.
The Amazon unit is also battling the perception that it’s missing out on a flurry of highly lucrative artificial intelligence deals for cloud services.
Anthropic and Google deepened their cloud partnership last week in a deal worth tens of billions of dollars, while Meta has inked hefty cloud deals with Google and Oracle in recent months.
Amazon on Wednesday opened its $11 billion AI data center called Project Rainier, which was first announced last December and is intended to train and run models from Claude chatbot creator Anthropic.
Amazon, which has invested $8 billion in Anthropic, said the startup will use 1 million of its custom Trainium2 chips by the end of 2025.
During last quarter’s earnings conference call, investors grilled Amazon CEO Andy Jassy on AWS growth and AI competition.
Jassy reiterated AWS has a “pretty significant” leadership position in cloud market share, while noting that it’s still “early” days in the AI industry that remains “very top heavy” with a “small number of very large frontier models.”
Amazon’s core retail business will also be top of mind for investors as the company gears up for the start of the holiday shopping period. Amazon said earlier this month it planned to hire 250,000 workers to staff up for peak season, the same number as the last two years.
Adobe Analytics recently projected that online holiday spending in the U.S. will jump 5.3% year over year to $253.4 billion, which is slower than last year, when online sales grew 8.7% over the same period.
During the third quarter, Amazon held its annual Prime Day deals event. Online spending reached $24.1 billion in the U.S. across the four-day stretch in July, according to Adobe, exceeding its estimates and representing growth of 30.3% year over year.
Jassy told investors last quarter that President Donald Trump’s shifting tariff policies haven’t dented demand or driven up prices so far this year.
Amazon’s third-quarter sales are expected to increase 11.9% year over year, compared with growth of 13% in the second quarter.
For the fourth quarter, analysts surveyed by LSEG are projecting sales to reach $208.1 billion, representing growth of 10.8% from a year earlier.
Amazon on Tuesday initiated massive layoffs, cutting about 14,000 roles across nearly every area of the company. Executives hinted that more cuts may be on the way in the new year as the company looks to get leaner, reduce bureaucracy and invest further in AI.
Once the job reductions are complete, they’re expected to be the largest corporate cuts in Amazon’s history, CNBC previously reported. Amazon laid off more than 27,000 employees between 2022 and 2023.
Shares of Amazon have increased 4.9% so far this year, while the Nasdaq is up approximately 24% over the same stretch.
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This week saw the launch of Grokipedia, a large language model-powered online encyclopedia created by Elon Musk. The U.S. billionaire claims the new product is a less “biased” alternative to Wikipedia, the decades-old reference site widely seen as one of the last surviving relics of a healthier, more democratic Internet. However, users have found much of Grokipedia’s content to be less than neutral, often promoting the same right-wing views that became more prevalent on X after Musk bought Twitter. If the concept of an AI-“enhanced” Wikipedia alternative with a heavy editorial hand sounds familiar, that’s because the Kremlin already launched one months ago. Meduza compares Grokipedia to Russia’s homegrown reference site, Ruwiki, and examines how they each treat certain politically charged topics.
Drawing from the OG
Ruwiki, first launched in beta in the summer of 2023, is essentially a fork of the Russian-language Wikipedia, meaning it’s largely based on its predecessor’s articles. The main difference — besides its AI capabilities, which were added later — is that Ruwiki articles about topics that are politically sensitive in Russia have been heavily censored. In 2024, the outlet T-invariant reported that most of Ruwiki’s articles about apolitical topics “are copied word-for-word from Wikipedia.”
Grokipedia also appears to be something of a Wikipedia fork. Many of its entries include the disclaimer: “The content is adapted from Wikipedia, licensed under Creative Commons Attribution-ShareAlike 4.0 License.” According to NBC News, some entries are copied verbatim from Wikipedia.
Much like Ruwiki, the Grokipedia articles that differ most from their Wikipedia counterparts are the ones about its creators’ pet issues. For example, as NBC notes, while the Wikipedia article for U.S. President Donald Trump includes a section on potential conflicts of interest, the Grokipedia entry omits many of his highest profile corruption allegations.
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AI Integration
Ruwiki is integrated with YandexGPT, the AI chatbot created by Russian tech giant Yandex. The encyclopedia’s homepage looks more like that of ChatGPT than Wikipedia, consisting of a text field underneath the question “What do you want to learn?” After the user enters a question, Ruwiki provides an AI-generated response based on its body of content, linking to specific articles that it cites.
YandexGPT is itself heavily censored, giving vague and evasive responses to user questions about politically sensitive topics such as the war in Ukraine or the late Russian opposition leader Alexey Navalny.
Grokipedia’s home page is also minimalistic, with a dark color scheme and a single text field. However, rather than an AI-generated response, queries there return a list of related Grok articles, which have themselves been generated and “fact-checked” by Grok, Musk’s AI chatbot.
Grok has repeatedly made headlines this year for pushing conspiracy theories, praising Hitler, and denying the Holocaust in its interactions with users on X (previously Twitter). At one point, it began mentioning “white genocide” in South Africa in responses to unrelated user posts throughout the platform, explaining in one case that it had been “instructed” to do so.
‘Commitment to providing facts without bias’ Russia’s flagship AI chatbot recommends reading Meduza and other ‘foreign agents’
‘Commitment to providing facts without bias’ Russia’s flagship AI chatbot recommends reading Meduza and other ‘foreign agents’
Ukraine war coverage
Grokipedia’s article on Russia’s full-scale war in Ukraine is far less blatantly propagandistic than that of Ruwiki. However, unlike Wikipedia, Grokipedia featurescommon Russian propaganda talking points more prominently and generally assigns them equal weight to evidence-based claims.
The Ruwiki entry, which is titled “Hostilities in Ukraine,” adheres closely to Moscow’s official narratives surrounding the war in Ukraine. Its opening sentence defines the conflict as “an indirect military confrontation between Russia and the United States and NATO.” Subsequent paragraphs suggest the war is a direct consequence of NATO expansion in Eastern Europe; Ukraine’s Maidan Revolution, which it refers to as a Western-backed coup; and a “military operation” by Kyiv “against the population of Donbas.” Overall, the article consistently frames Russia’s invasion as a defensive operation against the aggression of Western countries.
Grokipedia’s entry, on the contrary, acknowledges that Russia “initiated a full-scale invasion” and attempted to instigate regime change in Ukraine in 2022. At the same time, for all its purported neutrality, Grokipedia’s framing of the conflict often amounts to false balance, presenting easily refutable Russian disinformation as merely another “perspective” on the war.
For example, the second sentence of the more than 11,000-word article notes that Russia argues its “special military operation” is “aimed at demilitarizing and denazifying Ukraine” and “protecting ethnic Russians and Russian speakers from alleged persecution in Donbas,” but fails to mention that there was no systematic persecution of Russians or Russian speakers in the Donbas or that there are no “Nazis” in power in Ukraine.
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‘Gender ideology’
While both Elon Musk and the Kremlin have framed the existence of transgender people as an unnatural phenomenon or conspiracy pushed by U.S. left-wing elites, Grokipedia’s entry for “Transgender” editorializes much more and differs more dramatically from Wikipedia than Ruwiki’s.
The Ruwiki article is largely copied directly from Russian-language Wikipedia, though some sentences appear to have been removed, such as: “Transgender identity is not a disease or a disorder.” Grokipedia’s entry, on the other hand, repeatedly suggests that transgender identity is a “social contagion” and that gender affirming care is more harmful than the medical establishment claims. It also devotes more attention to comorbidities with gender dysphoria, pointing to studies that have found a higher prevalence of autism, depression, and anxiety among transgender people than among cisgender people. While it lists “critiques of innate gender identity models” among multiple “theories of causation” for “transgender identification,” it asserts that “philosophically,” this theory “invites circularity” and “conflates belief with biology.”
Both encyclopedias include sections about religious views on transgender identity. However, the Ruwiki article does not make overarching statements about the overall attitude of major religions towards transgender people, instead quoting statements from religious bodies and leaders criticizing the concept of gender identity. In contrast, the corresponding section in Grokipedia asserts: “Major world religions predominantly view transgender identity and transitions as incompatible with divine creation of binary biological sex.”
Dear leaders
Compared to Wikipedia, both Grokipedia’s and Ruwiki’s articles for their countries’ respective presidents omit significant negative information about them. Most of Ruwiki’s entry about Russian President Vladimir Putin reads like an article from Russian state media or from the Kremlin’s official website. However, it does briefly mention the International Criminal Court’s arrest warrant for Putin, noting that Russia does not recognize the court’s jurisdiction. It also includes two sentences about the Kursk submarine disaster in 2000, noting that the incident “prompted criticism not only toward the leadership of the Russian Navy but also toward the president himself.”
Even the “criticism” section of the Ruwiki article on Putin consists largely of compliments from foreign leaders, such as U.K. politician Nigel Farage’s statement that he dislikes the Russian president as a person but admires him “as a political operator.”
A useless add-on Russia’s Wikipedia replacement is touting its integrated AI — but the results are underwhelming
A useless add-on Russia’s Wikipedia replacement is touting its integrated AI — but the results are underwhelming
Grokipedia’s entry on Putin is less fawning but repeatedly takes the Kremlin’s own statements at face value. For example, the article lists a number of past political assassinations of Putin’s critics and enemies, but describes Russia’s failure to prosecute “alleged organizers” as “fueling debates over higher-level complicity.” Notably, the Grokipedia article does not mention the International Criminal Court’s arrest warrant for Putin over the illegal deportation of Ukrainian children.
Ruwiki is more willing to criticize Donald Trump, noting (unlike Russian-language Wikipedia) in its second sentence that Trump is “the first former U.S. president in history to be convicted of a criminal offense.” Also, unlike Wikipedia, the Ruwiki article includes an entire section on Trump’s relationship with the late financier and convicted sex offender Jeffrey Epstein.
Grokipedia avoids mentioning many of Trump’s major scandals, including his relationship with Epstein, the 2024 court ruling that he defamed E. Jean Carroll in comments denying her accusations of sexual assault, and the numerous corruption allegations against him.