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And while Rice doesn’t necessarily expect every tech titan to rise to Bill Gates’ level of giving, he urges Bezos to do more.

Analysts were expecting AWS to record .71 billion in revenue, slightly higher than the actual number, according to CNBC. Investors were not happy with Amazon’s report, sending its stock down 6 percent in after-hours trading, although that momentum seemed centered around weaker-than-expected guidance for the retail giant going into the holiday quarter.

Analysis: Amazon makes another bid for relevance in the games industry with Luna streaming service

Analysts said the stronger performance of the service sector adds to the evidence that the Chinese economy is stabilizing and that the sector, which already accounts for more than half of China's GDP, will continue as a key growth driver in 2020.

Analysts attributed this to declines in overseas stock markets.