Amazon shares fall on weak cloud growth while rivals Google, Microsoft thrive: ‘Very disappointing'
1. Amazon forecasted Q3 sales above estimates at $174-$179.5 billion. 2. AWS revenue grew 17.5%, but profit margins contracted to 32.9%. 3. Competitors like Microsoft and Google reported stronger cloud revenue gains. 4. AWS growth disappointment could lead to loss of market leadership. 5. Amazon cut jobs, reducing headcount by 14,000 in recent quarters.