Amazon CEO Andy Jassy published a shareholder letter on Thursday.
He emphasized Amazon's advertising business and compared it to Amazon Web Services (AWS).
- Jassy wrote that Amazon's advertising business had "similarly high potential" to AWS.
- His comparison is notable, considering that Jassy played a key role in turning AWS into Amazon's key profit-making enterprise.
- His letter also said Amazon is pivoting toward a regionally focused fulfillment network to reduce costs.
- The network will comprise eight interconnected regions that are intended to be self-sufficient but also capable of supporting the company's larger national network.
- Amazon has been seeking to reduce costs after reporting no profit and slowing online sales growth for Q4 2022.
