Amazon’s Q1 results were largely positive with the retailer exceeding expectations for revenue growth (+9% YOY). However, the stock responded poorly to AWS’s moderating growth (16%) vs Q1 2022 (37%). Amazon CFO Brian Olsavsky cited economic uncertainty as the primary driver of the AWS customer’s “optimization” of I.T. spend. He remains positive for the long-term outlook, due to their ability to help customers scale cloud services and the emergence of Artificial Intelligence & Large Language Models. CEO Andy Jassy emphasized a push to increase profitability to pre-pandemic levels through fulfillment center optimizations, improving supply chain costs, and better inventory positions & payments cycles.
Get the full Harvest Group Q1 2023 Amazon Earnings Report with unique takeaways for suppliers from our team of Amazon experts here:
