Amazon’s cost-cutting measures lead to big jump in profits: All the details

Amazon reported strong third-quarter results, with revenue and operating income tripling year-over-year. Net sales increased 13% to $143.1 billion, while operating income reached $11.2 billion, the highest in two years. The company attributed its success to cost-cutting measures, including headcount reductions and control over non-people expenses. Amazon’s e-commerce business grew by 7%, with third-party sellers accounting for over half of total sales. Amazon Web Services (AWS) also saw growth, with sales increasing 12% to $23.1 billion, driven by demand for cloud computing services and emerging technologies like machine learning and AI.