Financial Reporting
Amazon CEO Andy Jassy said Thursday that the high cost of using artificial intelligence models, particularly inference computing, could limit broader enterprise adoption. Speaking during Amazon's third-quarter earnings call, Jassy identified inference costs and a shortage of employees with AI expertise as obstacles. He noted that inference already accounts for well over half of AWS' AI revenue and that lowering costs is a major focus, including through custom silicon like Trainium chips. Gartner forecasts inference will account for 55% of global AI-optimized infrastructure-as-a-service spending in 2026, reaching $23.3 billion. Amazon reported third-quarter net sales of $201.9 billion, up 12% year over year, with AWS revenue climbing 39.3% to $46 billion.
Volkswagen Group is targeting a comprehensive cost program totaling around €31 billion ($34 billion) as it faces rising macroeconomic challenges, executives said during the company's earnings call. CFO and COO Arno Antlitz emphasized the need for swift restructuring, citing contracting Chinese market, tariffs, geopolitical tensions, and unprecedented competition. The automaker reported a 11% decline in global vehicle sales for the first nine months of 2026, with China deliveries down 30%. Operating loss for Q3 widened to $6.4 billion, and nine-month operating income fell 98%. Volkswagen plans to reduce overhead costs by about $12 billion and operational expenses for the remainder, while also cutting its model portfolio by 50% and reducing global workforce by approximately 50,000.
Uber Technologies announced on Wednesday that it plans to reduce its global workforce by approximately 10% as part of a major organizational restructuring. In a memo to employees, CEO Dara Khosrowshahi stated that the company will focus on its biggest growth opportunities by removing layers, simplifying team structures, and optimizing its global deployment strategy. Although the company's second-quarter revenue increased 12% year-over-year to $14.2 billion, the complexity brought by growth prompted this adjustment.
Coinbase announced in a securities filing and blog post on Wednesday that it has appointed Anthony Armstrong to its board of directors, effective immediately. Armstrong previously served as CFO of xAI and X Corp. and also worked at Morgan Stanley. He will join the audit committee and will receive an initial restricted stock unit award under the non-employee director compensation plan.
OpenAI finance executive Kyle Kober used the AI coding tool Codex to automate the cost reporting process, reducing the time from days to hours, reflecting a new trend of AI programming in the finance sector.
Artificial intelligence is penetrating enterprise operations at an unprecedented pace. CFOs driving AI adoption must confront multiple risks, including return on investment, data quality, governance, and compliance. This article compiles insights from CFOs at companies such as Nintex, Fullstory, and Pipedrive, as well as industry experts, listing seven key risk points and exploring how to maintain prudence and flexibility amid rapid change.
Nvidia reported revenue of $96.2 billion in the second quarter of fiscal 2027, up 106% year-over-year. The company provided its first full-year guidance, expecting 70% revenue growth in fiscal 2028. CFO Colette Kress noted that surging AI demand is driving growth, but tight memory supply and rising costs remain challenges.
Intuit provided guidance for fiscal 2027 during its fourth-quarter and full-year fiscal 2026 earnings call, projecting revenue between $23.2 billion and $23.5 billion, a growth rate of 9%-10%, a significant slowdown from the 14% growth in fiscal 2026. CFO Sandeep Aujla stated that the slowdown is mainly affected by the Desktop Ecosystem, TurboTax, and Credit Karma, but the company is 'resetting expectations' through AI investment and strategic adjustments. Additionally, Intuit will report Mailchimp as a separate operating segment and will stop excluding stock-based compensation expenses from non-GAAP metrics.