New Amazon boss Andy Jassy can’t neglect the huge e-commerce business, but fast-growing cloud services and advertising are also in his cart, rob_cyran argues.
Andy Jassy now has the reins at the $1.8 trln group. E-commerce is the base, but cloud services and advertising, both growing fast and with high margins, account for the bulk of operating profit. The two businesses face challenges: one from competitors, the other from regulators.
Context NewsAmazon.com said on July 29 that second-quarter revenue was $113 billion, an increase of 27% from the same quarter last year. The company earned $15.12 per share, compared with $10.30 per share a year ago.On July 5, Andy Jassy took over as chief executive, with founder Jeff Bezos becoming executive chairman. Jassy was formerly the head of Amazon Web Services, the company’s cloud-services division.
Source: REUTERS/Brendan McDermidAn Amazon delivery worker pulls a delivery cart full of packages during its annual Prime Day promotion in New York City, U.S., June 21, 2021. Read more: ReutersBreakingviews »
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