Amazon.com Inc signalled on Thursday its long lofty cloud growth would slow further as its business customers braced for turbulence and clamped down on spending, overshadowing the company’s quarterly sales and profit that topped expectations.
In extended trading, Amazon’s stock initially added about $125 billion 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 told analysts that Amazon Web Service (AWS) customers kept trying to slim…
