Amazon continues to suffer in its e-commerce business, but AWS saves it

Amazon said it expects to post third-quarter revenue of between $125 billion and $130 billion, representing growth of 13% to 17%.

“Despite continued inflationary pressures in fuel, power and transportation costs, we are making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network,” said CEO Andy Jassy. it’s a statement.

The company cut its workforce by 99,000 people, helping it blunt the blow of inflation that other tech giants have taken, and its cloud business beat Wall Street’s expectations.

Sales on AWS rose 33% from a year earlier to $19.74 billion, above the $19.56 billion projected by Wall Street.

Operating income, which excludes investment-related losses, fell to $3.3 billion from $7.7 billion a year earlier.