Analysis: Where next for Amazon as profits slump and sales stall?
While revenue growth continues and expectations continue to be exceeded, seemingly all is not well at Amazon. With jobs being slashed and profits falling, where next for retail’s biggest giant?
Revenue growth of 9% to $514bn (£417bn) is impressive for an ecommerce-focused retailer amid ongoing consumer channel shifts and it beat the company’s own expectations.
Yet it’s the first time chief executive Andy Jassy has felt the need to attend Amazon’s investor call, a task usually left to chief finance officer Brian Olsavsky to tackle alone.
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