AmazonHow does Amazon print?
Stores are the sales. AWS is the profit. Ads are the quiet third engine.
Do not read revenue as profit. The warehouse is volume. The region is the margin.
The mix
- Online storesVolume, thin margin.68%
- AWSMost of the operating profit.17%
- AdsSponsored products.10%
- OtherSub, physical, other.5%
Amazon segment reporting. AWS is the profit engine.
Who pays
Shoppers. AWS accounts. Advertisers on the store.
Who builds
Retail, logistics, AWS, ads. The SWE book is split across those.
