Amazon’s earnings show why Andy Jassy is now in charge

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Key Speakers At The 2019 CERAWeek Conference
Photo: Getty Images

As stores reopen and in-person shopping picks back up, the surge in demand for Amazon purchases has finally started to wane — not much, to be clear, but just enough to frustrate investors.

From April through June, Amazon saw $113.1 billion in sales of products and services, growing 27 percent year over year. That’s an enormous amount of money, but investors were hoping for a bit more, around $115 billion, and Amazon’s stock has been slipping since releasing the figures in its Q2 2021 earnings report this afternoon.

But there was one spot investors are happy to see, and it helps to explain the company’s recent executive shuffle. Amazon Web Services did $14.8 billion in net sales, up 37 percent year over year. That...

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