Amazon’s retail enterprise, while immense and growing, is increasingly in the shadow of adjacent businesses like advertising, subscriptions and marketplace seller services. In Q2 those operations grew as fast or faster than its online and physical stores and together netted more revenue. The company’s stalwart cloud business also continues to be yet another boon to its e-commerce.
“The solid growth and profitability of AWS and advertising should continue to outperform and support Retail,” Telsey Advisory Group analysts led by Joseph Feldman said in a note on the company’s Q2 report.
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