Costco Wholesale Corporation Reports March Sales Results

Amazon Web Services, Inc. announced a $230 million commitment for startups around the world to accelerate the creation of generative AI applications. This will provide startups, especially early-stage companies, with AWS credits, mentorship, and education to further their use of artificial intelligence (AI) and machine learning (ML) technologies. Part of the new commitment will fund the second cohort of the AWS Generative AI Accelerator, a program that provides hands-on expertise and up to $1 million in credits to each of the top 80 early-stage startups that are using generative AI to solve complex challenges. Applications for the AWS Generative AI Accelerator open today and will be accepted until July 19. “For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96% of all AI/ML unicorns run on AWS,” said Matt Wood, vice president, Artificial Intelligence Products at AWS. "With this new effort, we will help startups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business.”

U.S. revenue increased 1% and international revenue, led by gains in EMEA and Asia-Pacific, increased 10%. International represented 44% of first quarter revenue. With the exception of U.S. public finance, every major ratings sector delivered revenue growth with the largest gain in structured products. Operating profit increased by 9% to $408 million. The operating profit margin improved 220 basis points to 55% compared to the first quarter of 2017. Adjusted operating profit increased 8% to $408 million. The adjusted operating profit margin improved 190 basis points to 55%. Click Read More below for additional information.

A new 2023-2024 estimate projects political advertising revenues will rise to $10.7 billion -- up from an earlier estimate of $10.2 billion, according to AdImpact. This total would show 19% growth versus the 2019-2020 Presidential political advertising period, when political ad revenue totaled $9.02 billion. The advertising research company says this breaks down to broadcast platforms (local and national) estimated at $5.35 billion, with local cable TV systems at $1.93 billion, connected TV at $1.51 billion and digital media at $1.12 billion.