Amazon (AMZN) shares continued to gain ground in late trading on Thursday with the company’s earnings call highlighting the advancements in its cloud computing segment, new features on its ecommerce site,

Amazon’s cash tax payments fell 45% in the third quarter, driven largely by the One Big Beautiful Bill Act of 2025, even as profits surged 38%. The new U.S. law, championed by President Trump, allows companies to immediately deduct equipment and R&D costs — boosting investment in AI infrastructure while cutting near-term tax bills.

As Amazon’s wave of corporate layoffs starts to ripple across the country — including with 1,403 job cuts in California — CEO Andy Jassy took an opportunity to defend the move on Thursday.  During the company’s quarterly earnings call,

The domination of e-commerce is inevitable and will only come faster thanks to the emerging technology, even if physical stores represent opportunity for now, Andy Jassy told analysts Thursday.