Is Amazon back on track?

Compared to previous quarters, this set of results looked better.

In fact, many aspects manage to beat expectations. But there are also some misses and concerns as well.

Here are some key takeaways.

Total revenue is up 10% YoY.

Revenue was lifted by better North America segment sales, which increased by 11% YoY to USD 76.9 billion, and AWS, which increased 16% YoY to USD 21.4 billion.

Although a major bulk of Amazon's revenue is via retailing, it has never been a profitable pillar for Amazon.

But this time round, for Q1'23, the North America segment finally reported an operating income of USD 0.9 billion.

Most if not all of Amazon's profits are derived from AWS.

The same goes for their operating cash flow.

So will there be any huge concerns, if AWS cannot continue to grow at a speed relative to its competitors?

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