Amazon reports slower-than-expected Q4 growth, but Prime and AWS boost revenue. The company removed 18000 job roles but aims for long-term growth. - cc: amazon amazon amazonwebservices
Amazon has reported its fourth-quarter earnings for 2022 and the results have been mixed. On one hand, the company's revenue beat expectations, boosted by sales in its cloud-computing unit AWS and the success of its loyalty program Amazon Prime. However, the company's overall growth was slower than expected, marking the slowest growth in its nearly 25-year history as a public company.
Despite this, Amazon remains focused on investing in automation and technology to increase efficiency, reduce costs, and drive future growth. The integration of automated robots into Amazon's supply chain and fulfillment centers has raised concerns about job loss and unemployment, but the company believes that it will ultimately lead to new job opportunities and economic growth.
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