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in Tech

Amazon’s 16% cloud revenue growth impresses even as margin narrows

by Editor April 29, 2023, 5:50 am 1.8k Views

Amazon Web Services CEO Adam Selipsky speaks at the CERAWeek by S&P Global conference in Houston on March 7, 2023.

F. Carter Smith | Bloomberg | Getty Images

Amazon said Thursday that its cloud unit grew revenue by about 16% in the first quarter, a slightly more rapid pace than analysts had projected.

Revenue from Amazon Web Services totaled $21.35 billion, representing almost 17% of Amazon’s overall revenue, according to the company’s earnings…

Posted by Editor