Amazon Web Services (AWS) generated total sales of $19.7 billion for its second quarter, up 33% year-over-year, but growth slowed and the big question for the company is how it will fare the rest of the year as enterprise customers face uncertain economic conditions.
Amazon said that it expected profit margins to fluctuate due to potential recession, as well as investments in technology infrastructure and employee costs.
In the first quarter, the cloud services arm of Amazon reported revenue growth of 37%, posting revenue of $18.44 billion.
When asked about possible slower growth in the coming quarters, a phenomenon that rivals such as Microsoft and Oracle are also bracing for, company officials said that its profit margins were dropping sequentially but saw room for overall growth in the business going forward.
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