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Crypto Trading Played Role in Amazon Web Services Slowing Growth in Q4

Amazon beat analyst expectations on Thursday when it announced its fourth-quarter results for 2022, reporting a 9% increase in revenue growth.

The tech giant reported $149.2 billion in net sales, compared with an expected $145.42 billion, according to Yahoo Finance analyst estimates.

Despite the top-level win, some of Amazon's business lines experienced slowdowns, including sales for Amazon Web Services (AWS) and Amazon's online stores. Changes in crypto trading activity were partly to blame for AWS's slowdown in the fourth quarter, said Brian Olsavsky, Amazon's chief financial officer, on an earnings call.

(By Kari McMahon)

Amazon
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