Amazon sees cloud slowdown in April as consumers cut spending

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City AM

By Abby Wallace The brakes appeared to be coming on to Amazon’s cloud growth would slow further as its business customers braced for turbulence and clamped down on spending. The news overshadowing the company’s quarterly sales and profit that topped expectations. In extended trading, Amazon’s stock initially added about $125bn (£100bn) in value on its upbeat view of consumer sentiment and the company’s holding its own among cloud competitors, only to see the entire gain vanish in a matter of minutes. The drop in the share price followed remarks by chief financial officer Brian Olsavsky, who to…

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