Amazon Web Services recorded sales of more than $21 billion in the first quarter of 2023, an increase of 16 percent compared to the previous quarter. A year ago, the turnover of the tech giant’s cloud division was up 37 percent.
Stagnant growth of the AWS division has led to lower operating income within this division, which is €4.6 billion in the first quarter of 2023 compared to about €5.9 billion in the same quarter last year. After selling products in the webshop and facilitating third-party webshop sales, Amazon Web Services cloud services are the primary source of revenue for the billion-dollar company; Amazon is the largest in this sector.
Despite the lack of results for this important section Amazon Reports Total turnover of 115.5 billion euros in the first quarter of 2023, which is an increase of 9 percent compared to the same quarter of 2022. This good result leads to a profit of just under 2.88 billion euros, which is 41 percent higher than expected. And a huge increase compared to the first quarter of 2022, given that the company still incurs a loss of approximately 3.5 billion euros.
Although the results are much better than last year, Amazon is being careful; The “uncertain economy,” according to the company, is leading to more conservative spending, both at Amazon and consumers. As far as the latter category is concerned, this is reflected in the web store’s ongoing spending pattern. As far as Amazon itself is concerned, this year included layoffs of 18,000 employees in January and another 9,000 employees who had to leave in March.
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