Tech
Amazon still the online retailer of choice as cloud business faces competition
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Amazon will seek to reassure investors on Thursday that its cloud business, a critical driver of profits, is growing at a fast enough clip to offset any pullback in consumer spending that could throttle its retail operations.
The tech giant’s revenue likely increased 9.5% in the second quarter to $162.08 billion, according to data from LSEG, accelerating from the first quarter and largely in line with the year-ago period. Amazon Web Services (AWS), the cloud unit that accounts for less than a fifth of the company’s sales but typically about 60% of its…
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