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Whilst Amazon's e-commerce business is losing momentum (down by 0.1% year-on-year), the AWS cloud service is recording the slowest growth since 2015. To improve profitability, the tech giant is introducing a series of AI-based tools for businesses. Amazon's year-on-year revenue growth was 11%, driven by the marketplace and the cloud.
On 27th April 2023, Amazon released the first quarter results, showing slowing e-commerce but dynamic advertising growth. Revenue reached US$127.4 billion, up from US$116.4 billion in Q1 2022, representing 11% growth at constant rates.
The company’s profitability has improved. In Q1 2023, Amazon’s operating margin was 3.7%, compared to 3.1% a year earlier. In contrast, in net terms, profitability jumped from a net loss of US$3.8 billion one year ago to US$3.2 billion in profits in Q1 2023. This
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