Critically, sales of Amazon’s cloud computing services continued to gain steam, growing 19 percent to $26.3 billion.
Amazon Web Services has also become more profitable, with an operating margin of 35.5 percent, up from 24.2 percent a year earlier.
It spent $16 billion on capital expenditures, including new data centers, expensive computer chips and warehouses to fulfill orders.
While Amazon has become more profitable, it is having a harder time spending that cash.
As a result, the company’s cash has grown to record levels, with $71.7 billion on its balance sheet at the end of the quarter.
Persons:
“ We’re, Andy Jassy
Organizations:
Amazon, Services, Big Tech, Regulators
Locations:
A.W.S