Amazon's outlook brightens on cloud, consumer sales lift

Amazon on Thursday reported sales growth and profit ahead of Wall Street's expectations, as the company delivered goods faster and cheaper to shoppers and as recent cloud-computing headwinds began to subside.Facing an array of challenges, Amazon has aimed to keep its mantle as the world's biggest cloud provider and online retailer.

In retail, Amazon reorganised its delivery network and opened warehouses for same-day shipping closer to big metro areas, saving time and costs on delivery. Despite this, Amazon sped up revenue growth in the second quarter. Sales increased 11 per cent to US$134.4 billion, compared to estimates of US$131.50 billion from analysts polled by Refinitiv.

"Our AWS growth stabilized as customers started shifting from cost optimization to new workload deployment," he said in a statement."It was another strong quarter of progress for Amazon."

Source: News Formal (newsformal.com)

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