Amazon’s profit leap surprises investors as CEO Jassy cuts costs

  • Under CEO Andy Jassy, Amazon posted earnings of 65 cents per share, exceeding estimates of 35 cents.
  • Jassy’s cost-cutting measures included reducing expenses in the fulfillment system and reducing reliance on Amazon Web Services for profits.
  • Despite slow growth in the cloud business, Jassy remains optimistic about its prospects, citing upcoming AI initiatives.
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