Amazon reported earnings that blew past estimates on Thursday, showing just how far the company's cost cuts have gone to bolster profitability.
Jassy pared back underperforming projects in riskier, newer verticals like healthcare and grocery, froze corporate hiring and eliminated 27,000 jobs.
Amazon said its core business of selling goods in North America earned $3.21 billion during the quarter, a reversal from the same period a year ago, when the segment lost $627 million. Jassy wants investors to think about it in a different way. Last year, as economic concerns became the dominant theme in corporate America, companies were looking to reduce expenses, including finding ways to lower their cloud bills. Jassy says AWS helped them with their "optimization," getting more productivity at lower costs.
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