Amazon Q2 earnings outperformed analyst expectations, but a strong performance wasn’t enough to quell market fears in light of a gloomy forecast and Amazon Web Services growth seen as anemic, at +17.5 percent, which was slower than the expansion of its competitors Microsoft Azure (+39 percent) and Google Cloud (+32 percent). Amazon’s Q2 profit was $18.2 billion, up nearly 30 percent on revenue of $167.7 billion, a 13 percent gain year-over-year. Advertising income of $15.7 billion was almost $1 billion more than StreetAccount’s estimate of $14.9 billion. But for the current quarter, Amazon estimated operating income between $15.5 billion and $20.5 billion. Continue reading Amazon Profit Is Up 30 Percent, but Forecast Spooks Market

Amazon warehouses and fulfillment centers will soon have as many robots as human employees reading destination labels, packing orders and loading conveyor belts. Amazon serves 310 million customers worldwide, using various robot configurations to aid 1.56 million employees to process and deliver inventory and handle other businesses. Now the company has delivered its one millionth robot, to a facility in Japan. With artificial intelligence making a beeline toward white-collar work and warehouse robots poised to elbow aside manual laborers, global economics could shift on the practices of this company alone. Continue reading Amazon Deploys Millionth Factory Robot, Workforce Shrinks