Amazon was not profitable once AWS was removed in 2022. In fact, Amazon, without AWS, generated $10.6 billion in operating losses. While Amazon, without AWS, generated $12.2. billion operating income.
And it was confirmed by the end of 2022, as Amazon posted a $2.7 billion net loss, nonetheless AWS contribution to Amazon’s profitability.
In the meantime, AWS keeps growing at staggering rate.
Thus, skewing Amazon’s cost structure toward AWS.