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Amazon stock rises after beating Q3 estimates with $143.1B in revenue, $9.9B in profits

GeekWire

Net income was $0.94 Amazon’s cost-cutting moves over the past year, including thousands of layoffs and tightening of its fulfillment network, appear to be helping improve the company’s bottom line as it manages macroeconomic forces such as inflation and interest rates. Amazon reported $143.1 per share, or $9.9

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Tech Moves: Expedia board director Skip Battle resigns; Madrona promotions; Vacasa’s new CFO

GeekWire

Its net loss for the first nine months of this year was $2.2 She succeeds co-founder David Brown, who will remain on the board of the global network for entrepreneurs. ” Sharma joined Madrona last year from Amazon Web Services. Expedia has been crushed by the pandemic as travel restrictions slow its business.

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Amazon’s strategy to squeeze marketplace sellers and maximize its own profits is evolving

Vox

In his 2020 letter to shareholders, Jeff Bezos said it accounted for nearly 60 percent of Amazon’s retail sales, which come from nearly 2 million sellers. That revenue translates to a lot of profit — more than even Amazon Web Services (AWS), Amazon’s cloud computing platform typically believed to be the company’s most profitable arm.

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GeekWire’s new ‘Day 2’ podcast scrutinizes Amazon’s impact on tech, business and the world

GeekWire

Its profits have also doubled to more than $21 billion annually , and its net sales are up 50% to $386 billion. Its cloud computing division, Amazon Web Services, powers many of the world’s online businesses, bringing in $45 billion in annual revenue and $13.5 million people. Its market value is more than $1.5

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